Hi,
Please move if in the wrong section.
We recently paid a lump sum off our mortgage.
In relation to this, I requested we continue to pay our current balance and requested that the term be reduced.
On this, the bank have advised me that the Mortgage maturity date remains the same today and will only be reduced when our fixed term with them expires.
Can I ask does this have any implication to interest payments on the mortgage? It may be a silly question but just wanted to know as they were adamant my expiry date does not change post payment.
Feedback appreciated and thanks,
Please move if in the wrong section.
We recently paid a lump sum off our mortgage.
In relation to this, I requested we continue to pay our current balance and requested that the term be reduced.
On this, the bank have advised me that the Mortgage maturity date remains the same today and will only be reduced when our fixed term with them expires.
Can I ask does this have any implication to interest payments on the mortgage? It may be a silly question but just wanted to know as they were adamant my expiry date does not change post payment.
Feedback appreciated and thanks,