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Howitzer said:Interest rates go up by 1% in the next year and your repayments go up by 25%. E1000 mortgage becomes E1250.
bacchus said:well, does it not depend on the amount of money outstanding ? and i have not seen any absolute figures in this thread.
May be you could give us the conditions used of your calculation?
Howitzer said:"Interest only mortgage" implies the entire lump sum is, and always will be, outstanding. By defination this is the case. Absolute figures are not required but the trivial example I gave should be sufficient assuming the current mortage rate is 4% (a lower rate means a bigger % increase, and visa versa, but the ballpark figure is the same).
parsley said:where can i get an interest only mortgage
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