Hi all
Just a thought that's being going around my head the last couple of days, it could be complete nonsense so apologies in advance .
I'm in the process of my 3rd switch (aib-ebs-aib-ub) and I'm wondering when a mortgage is initially taken out interest is front loaded right? As in for the first X amounts of years the monthly repayments predominantly go off mortgage and the rest of capital. As time goes on this ratio is reversed .
So if I am constantly switching mortgages, am I inadvertently resetting the interest portion back to high that comes out of my monthly payment, or am I talking crap?
Thanks all
Tom.
Ps sorry about the thread title, bloody auto correct. I do t know how to change it either!
Just a thought that's being going around my head the last couple of days, it could be complete nonsense so apologies in advance .
I'm in the process of my 3rd switch (aib-ebs-aib-ub) and I'm wondering when a mortgage is initially taken out interest is front loaded right? As in for the first X amounts of years the monthly repayments predominantly go off mortgage and the rest of capital. As time goes on this ratio is reversed .
So if I am constantly switching mortgages, am I inadvertently resetting the interest portion back to high that comes out of my monthly payment, or am I talking crap?
Thanks all
Tom.
Ps sorry about the thread title, bloody auto correct. I do t know how to change it either!
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