What are the disadvantages of borrowing 200k at a 40year term and then paying back extra.
I.E the amount that would have been required for a 30year at the same ammount?
Would this not mean that I have the option of lowering my repayments if I should not be able to keep up the extra amount. While all the time deducing the capital of the mortgage and hence reducing the intereset owed?
I.E the amount that would have been required for a 30year at the same ammount?
Would this not mean that I have the option of lowering my repayments if I should not be able to keep up the extra amount. While all the time deducing the capital of the mortgage and hence reducing the intereset owed?