Understanding Borrowing
A mortgage recast changes the payment calculation without replacing the loan
A mortgage recast can reduce the required payment after a principal reduction. Learn which terms stay in place and what to ask your servicer.
MONEY, MADE UNDERSTANDABLE
Understanding Borrowing
Understanding Borrowing
When a loan balance grows despite regular payments: negative amortisation explained
Learn why a loan balance can rise despite regular payments, how negative amortisation works, and what to ask before the payment changes.
Understanding Borrowing
Soft and hard credit enquiries: two checks with different consequences
Learn how soft and hard credit enquiries differ, what to ask before an application, and why checking your own report is a separate step.
Understanding Borrowing
How a Mortgage Offset Balance Changes the Interest Calculation
Understand how a mortgage offset balance can reduce the amount charged interest while remaining separate from a direct repayment of the loan.