Hi there,
Ok so getting a mortgage with Santander for 57k.
For overpayment they say i can make capital repayment upto 10% per year, (a minimum overpayment being £500).
ok great so i have these questions;
1. What exactly is meant by 'capital' repayment as opposed to just a normal repayment?
2. so if 10% of 57000 is 5700. Does this mean in theory I can make 11 repayments of 500 in the first year?
Thanks very much for any help :)
Ok so getting a mortgage with Santander for 57k.
For overpayment they say i can make capital repayment upto 10% per year, (a minimum overpayment being £500).
ok great so i have these questions;
1. What exactly is meant by 'capital' repayment as opposed to just a normal repayment?
2. so if 10% of 57000 is 5700. Does this mean in theory I can make 11 repayments of 500 in the first year?
Thanks very much for any help :)