Re: First year of repayment mortgage, WTF!

"Ronald Raygun" wrote:
...

"Peter Saxton" wrote
I've explained the situation perfectly adequately.

"Tim" wrote:
You've said that some of RR's points are "rubbish",
when they are actually perfectly *valid*, but you certainly
haven't "explained the situation perfectly adequately."

"Peter Saxton" wrote
Explain what is wrong with:

"There is no split. You don't pay some interest and some capital."

RR's already explained it to you. Of course part of what
you pay back is capital, and part of it is interest. If it's not
"some interest and some capital", then what do *you* think it is?

"Peter Saxton" wrote
"... You borrow, get charged interest and make
repayments continuously until the debt is cleared."

That bit's OK.



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