.Another option is to let them reduce payment to 1300, and you set up a standing order for the extra amount you want to pay and then you're in control if you need to reduce. You will get frequent letters from them though as they'll keep reducing you repayment as you overp
Actually @Deano
When you speak with AIB, ask them is it possible to continue repayment at 1700 per month until further notice, but allow you to revert to 'normal' repayment if you ever need it.
I'm not sure how flexible their systems are, but they might be able to accommodate that.
Another option is to let them reduce payment to 1300, and you set up a standing order for the extra amount you want to pay and then you're in control if you need to reduce. You will get frequent letters from them though as they'll keep reducing you repayment as you overpay.
Great, thanks a million. I just wanted to be 100% sure that it would end up reducing the term and saving the interest at the end.Spot on. And then you can stop the standing order anytime you want.
You'll see @landlord confirmed that's exactly what he's been doing.
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