Unraveling Home Loans: Where Does Your Repayment Go?

In this video, we dive into the intriguing world of home loan repayments. Did you know that in the initial years of your mortgage, the majority of your monthly payment is directed towards the interest rather than the principal? This phenomenon is an eye-opener for many. 🔑 What you'll learn in this video: 🔹 Basics of home loan and the components of a mortgage payment. 🔹 The difference between the principal and interest in a mortgage. 🔹 An illustrative example explaining the distribution of your monthly payments over the life of your loan. 🔹 How the repayment structure changes over time. 🔹 Tips for making informed decisions regarding your home loan. 💡 Who should watch: 🔸 Homebuyers and homeowners looking to deepen their understanding of mortgage repayments. 🔸 Individuals considering taking out a mortgage. 🔸 Financial enthusiasts seeking insights on home loans. ✅ Don’t miss out on this opportunity to get acquainted with the ins and outs of your mortgage repayments. This video will arm you with the knowledge needed to make more informed decisions when it comes to your home loan. 🔔 Make sure to hit the like button if you find this video helpful, share it with your friends, and subscribe to our channel for more insightful content on home finance. [Your complete financial situation will need to be assessed before acceptance of any proposal or product. Liability limited by a scheme approved under Professional Standards Legislation.]