Dear all,
I have been playing around with Karl mortgage link to see the various options for early payments of a mortgage seeking to reduce the term.
On a 200k variable mortgage, it is showing that a 10k annual prepayment is reducing the term for more years than a one off prepayment of 50K payment for example.
Am I reading this correctly?! Thank you for you help to understand best option to reduce the term. Thank you
I have been playing around with Karl mortgage link to see the various options for early payments of a mortgage seeking to reduce the term.
On a 200k variable mortgage, it is showing that a 10k annual prepayment is reducing the term for more years than a one off prepayment of 50K payment for example.
Am I reading this correctly?! Thank you for you help to understand best option to reduce the term. Thank you