Hi,
We took out a mortgage of 200,000 over 25 years in March 2007 . It is currently 2.25 % and our monthly repayments are 891.38 ( minus 75 for TRS) . We have asked the bank to extend our term and they have agreed to extend it by five years. A few stupid questions how do I know what kind of a mortgage we have ? Is it a tracker ? the repayment amount has remained the same for the last year and what would our new monthly repayments be if we extend the term by five years? Thanks in advance.
We took out a mortgage of 200,000 over 25 years in March 2007 . It is currently 2.25 % and our monthly repayments are 891.38 ( minus 75 for TRS) . We have asked the bank to extend our term and they have agreed to extend it by five years. A few stupid questions how do I know what kind of a mortgage we have ? Is it a tracker ? the repayment amount has remained the same for the last year and what would our new monthly repayments be if we extend the term by five years? Thanks in advance.