A fixed loan for the long term
22 May 2008
Fixed loan repayments are set and usually restricted as the lender will have made specific calculations to ensure a decent return in interest on your loan. As you generally cannot repay faster in a fixed loan, it is only a reasonable option when you don't believe you will be able to repay more of the loan than the fixed loan repayment amounts allow. This can easily lead to a higher amount if interest paid in the long term, as you will not be able to reduce the balance of your fixed loan when it is at its largest.
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