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Not really, they still make money from someone if they've had a mortgage for a minimum period. They're still making the interest every month until it is paid ba
by alexkus 13y ago
Not really, they still make money from someone if they've had a mortgage for a minimum period. They're still making the interest every month until it is paid back, even early. If someone pays back money early then it means they can lend out more (assuming leverage limits are being enforced). And, depending on the initial conditions of the mortgage, they may even get more money because of early repayment fees.
In the UK there are mortgages available for those doing consulting work (i.e. not on a regular salary). They generally have an interest rate about 2% higher than mortgages available for those with salaries.
- almosnow 13y agoNever said they didn't make money from you, I just said you are not their target audience, as in implying that you are not precisely a customer that they are dying to have with them, in other words, they can axe you out without thinking about it too much. Also, downvotes? really? do you guys even bank?
- almosnow 13y agoHaha, go fuck yourselves .|. c:
- busterarm 13y agoIn the US there are highly predatory lenders who get away with things like early payment penalty charges and up-fronting the entire loan term's interest so you end up paying the full amount no matter when you pay it off.