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Please explain this
ZINXYX
Posts: 627 Forumite
Hi,
I took out a mortgage last year for £77000 with HSBC.I've just had my first statement and at the top where the summary is,it says :
Payments out: £80,846.87
Payments in : £4,563.31
However the first transaction on the statement says :
Drawdown of loan: £77000.
I do not understand what is going on, could someone please enlighten me.
It was a mortgage deal with no fees to pay.
Thanks
I took out a mortgage last year for £77000 with HSBC.I've just had my first statement and at the top where the summary is,it says :
Payments out: £80,846.87
Payments in : £4,563.31
However the first transaction on the statement says :
Drawdown of loan: £77000.
I do not understand what is going on, could someone please enlighten me.
It was a mortgage deal with no fees to pay.
Thanks
You can have God without religion!
0
Comments
-
perhaps the detail explains it but it looks like
you borrowed 77,000
your interest was 3,846.87
and you paid them 4,563.31 in monthly payments
???????0 -
Thank you very muchYou can have God without religion!0
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