You are reading a single comment by @stevo_com and its replies.
Click here to read the full conversation.
London Fixed Gear and Single-Speed is a community of predominantly fixed gear and single-speed cyclists in and around London, UK.
This site is supported almost exclusively by donations. Please consider donating a small amount regularly.
stevo_com
Isn't the 3% a charge for early repayment of the whole mortgage and the 10% the amount you can pay as an over payment each year of the original mortgage ?
Mortgage = 100000 so 3ooo (3%) to pay the whole thing off.
Mortgage = 100000 so 10000 (10%) you can overpay each year to reduce the mortgage balance.