Monday, 13 February 2017

Illogicality of Morgtgages

We are about to come to the end of our fixed rate mortgage and so had a conflab with the building society over the weekend. The upshot is that the interest rate has doubled to 5.44% variable, we're going to be paying the same amount we've been paying for the last 4 years (which was actually double when we needed to pay) and we will pay the mortgage off a year quicker (in 1 year 9 months). There doesn't seem to be any logic in this, but I'm not complaining. Looking forward to being completely (and I mean completely) debt free in 2019.

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