Are you sure? €1.5K annual interest on €40K would suggest a mortgage interest rate of c. 3.75% which seems very low!Yup- they said it was a yearly interest charge....seems to be the interest due on the 40K which is fair enough.
It might help if you could post the precise wording of the letter.But the letter is very badly worded. Don't have it in front of me but it read like 1500 was due to be paid immediately.
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