Shared Ownership monthly repayments to Co. Council (eg DLR) comprise 3 elements as follows:
1 Mortgage repayment (principal plus interest).
2 Rent on the portion owned by Council.
3 Mortgage Protection Insurance (expensive at .598%).
If a person can only afford a reduced monthly repayment--say half--what is the
order in which the repayment is applied to the above 3 elements?
Wonder would anyone have knowledge of this?
1 Mortgage repayment (principal plus interest).
2 Rent on the portion owned by Council.
3 Mortgage Protection Insurance (expensive at .598%).
If a person can only afford a reduced monthly repayment--say half--what is the
order in which the repayment is applied to the above 3 elements?
Wonder would anyone have knowledge of this?