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Re: Mortgages
Similar, only over here they have all sorts of different kinds, thus plenty of different interest rates (it can also vary a lot from one provider to another).
I'm sure you have different types over there too, but here we have....
Capped
Collared and Capped
Interest Only
Discounted
Fixed
Cash Back
'One' Accounts
Variable
etc etc...
Some providers still hang onto yearly interest too (worked out once a year and added to total), but most providers these days work it out on a daily basis. So, if you pay more off, it comes off your total straight away.
Hope that was what you were asking...........
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