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Choosing your mortgage
05: Deferred interest mortgages
This means that you pay at a rate less than the interest rate being charged. In turn, this means that the outstanding mortgage goes up each month. That can be useful for budgeting reasons or to keep payments the same (perhaps changing them just once a year), even if rates change.Last Updated
Your home may be repossessed if you do not keep up repayments on your mortgage.
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