|
|
| Sitemap • Directory • |
|
| |
- Overpayments - |
|
|
| |
Some mortgages and loans allow you to make extra contributions over and above the monthly repayments, which can have the effect of reducing your outstanding balance or the loan term. There will usually be a limit (for example, 10 per cent of the balance) to how much you can pay without incurring charges. Other products will have specific rules, for example whereby the borrower is allowed to make one lump sum payment per year, possibly in a specific month of the year. However, it is worth noting that even a small addition (£10 per month) to your payments can have a dramatic effect on the total amount you spend over a long-term loan. Overpayment calculators are available on the internet.
|
|
|
Use our layman jargon buster to decipher other key industry terminology.
A B C D E F G H I J K L M N O P Q R S T U V W X Y Z
|
|
|
| |
| |
| Think carefully before securing other debts against your home. Your home may be reposessed if you do not keep up repayments on your mortgage or any other debt secured on it. Loans secured on your home. |
| |
 |
 |
 |
 |
|
 |
|
 |
|
Licensed credit broker authorised by the Office of Fair Trading. Registered members of CFB, FISA, FSA, Data Protection Act 1984 |
|
 |
| Processing by LL Processing (UK) LTD, Intec 4, Wade Road, Basingstoke RG24 8NE |
© 2007 LoanLine - Overpayments |
|
About Us 
