Im having difficulty deciphering the internet on its views of mortgages so i just thought i would ask people who have them and henceforth probably know a few of the answers to my questions. It always seems silly that they don't teach this kind of thing in schools, in my opinion they are important life lessons that everyone eventually need to know. So here are my questions:
1) Can you pay lump sums of your mortgage off? (if so what is the difference in this on an interest only mortgage and a repayment mortgage)
2) Is there a fine or extra fee for doing this?
3) If i use a help to buy scheme or other government schemes can i pay these off before the sale of my house, or do you HAVE to wait until you move?
I feel like im going round in circles i know the basic basic things but nothing so technical… And one last question has anybody had much success on a 5% deposit and what is the range of house prices available with that?
Thank you if you can help will appreciate any answers/ advice!
Read more: Understanding a mortgage…Help?
