Re: First year of repayment mortgage, WTF!
public.mark.m@xxxxxxxxxxxxxx wrote:
We got our first year mortgage statement to find paying @£560 quid a
month only paid off around 2k of the balance!. almost all of it went on
the interest!. I thought it would have been 50/50 with capital and
interest and cant find anywhere where it mentions this in my mortgage
documents. Can I expect this ratio to change?
This is what always happens in a repayment mortgage. Now that the capital
is 2k lower, the interest will be that much lower and more of the money
will go to repaying the capital. Eventually, pretty much all of your
repayment will be capital.
.
Relevant Pages
- Re: Running total in a form...
... The amount paid in *other* lines of the trasaction is: ... So the balance left is: ... The data entry operator needs a box on the data entry form the ... > Paid_with field, works somewhat, but I cannot get it to dynamically update ...
(microsoft.public.access.forms) - Re: First year of repayment mortgage, WTF!
... then the difference is how much capital you've paid off. ... It will also say what your balance was at the start of the year. ... It is the amount outstanding, which *is* partly capital and partly ... payment over the interest charged for that period (which in turn is ...
(uk.finance) - Re: First year of repayment mortgage, WTF!
... then the difference is how much capital you've paid off. ... It will also say what your balance was at the start of the year. ... Generally the balance *is* all capital, if you've been paying all the ... It is the amount outstanding, which *is* partly capital and partly ...
(uk.finance) - Re: Paying Credit Card in full or not
... 28th it would be for zero balance and nothing would be due. ... (Actually I'm not sure if the early payment in my scenario would work if nearly all the balance was paid before the statement date. ... All this discussion makes the case for preferring debit cards of course. ...
(uk.finance) - Re: Paying Credit Card in full or not
... then paid 1000 quid back on 21st, when my statement was created around ... 28th it would be for zero balance and nothing would be due. ... nearly all the balance was paid before the statement date. ...
(uk.finance) |
|
