I’m not just talking about using a mortgage calculator to work out what the monthly payments will be but how to make use of a calculator that shows the ‘amortization’ or monthly & yearly breakdown of payments and balance as well as the difference an overpayment could make. Anybody who has any exposure to mortgages will know there are several options available which include fixed rate deals, trackers or lender’s ‘standard variable rates’. Fixed deals last for a set number of years and for those set years the interest rate stays the same. Tracker deals may offer an interest rate that
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