Hi, i have never really understood mortgages if i am going to be
honest, but i thought that the interest is taken first and then over the
second half of the mortgage it would go right down and you pay more off
the actual mortgage.
I have a 25 year olf
mortgage and only have 9 years left off the mortgage. My mortgage like
tens of thousands of others were sold to another mortgage company
without my permission. Apparently it is in the contract they can do
that. Never missed a payment but the amount of interest they are taking
from my monthly mortgage does not seem to be going down.
So just wondering if someone could explain for me how it all works on an example of a £90,000 mortgage
