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Mortgage interest rate


Derek Domino
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I'm new to this and am not very savvy as far as finance matters are concerned - I hope I'm posting this to the correct place.

 

I have a mortgage with RBS - I recently checked my online mortgage statement which showed that I pay 756.31 each month it also shows that they deduct an average of 374.50 each month - as I didn't know what these deductions were for I wrote to them. They've just replied and told me that these were monthly interest payments - is this right - seems a bit excessive to me?

 

Derek

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