Winter Miles
Registered User
- Messages
- 19
Hi,
This might seem like a remedial question, but I have an IO mortgage with BOS for my family home. I make capital repayments every month to the tune of €900 in addition to the IO payment, say €500.
I don't see a reduction in the interest amount, despite paying off the capital.
Should I be seeing a gradual reduction in the interest payment as I pay off the capital?
Thanks
This might seem like a remedial question, but I have an IO mortgage with BOS for my family home. I make capital repayments every month to the tune of €900 in addition to the IO payment, say €500.
I don't see a reduction in the interest amount, despite paying off the capital.
Should I be seeing a gradual reduction in the interest payment as I pay off the capital?
Thanks