Mortgages
Fixed vs. Variable Mortgage Rates: A Side-by-Side Comparison
How rate structure affects monthly payments, total interest, and the risk you carry over a full loan term.
Loans & Mortgage
Loans & Mortgage
Legamoney publishes educational information about borrowing: how mortgages are structured and priced, what refinancing changes, how home loans, student loans and personal loans are assessed, and how interest rates, credit files and repayment order affect what a debt costs over its full term. We explain the mechanics. We do not recommend lenders or products.
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Interest Rates
How Lenders Set Interest Rates on Consumer Loans
Funding costs, risk pricing, and margin — the three inputs behind an advertised rate.
Mortgage Refinancing
When Refinancing a Mortgage Changes Your Total Cost
How break fees, remaining term, and the new rate combine to decide whether refinancing saves anything.
How a mortgage payment is built
Four inputs determine every repayment schedule. Understanding how they interact is enough to read any loan offer. The illustration below is structural, not a quote.
01
Loan amount
The principal you borrow after any deposit. Everything else is calculated from this figure.
02
Interest rate
The cost of borrowing the principal, expressed annually. It may be fixed for a period or move with a reference rate.
03
Loan term
The number of years the balance is repaid over. A longer term spreads the principal across more payments.
04
Monthly payment
The scheduled amount covering interest owed for the period plus a portion of the principal.
Principal portion
Reduces the loan amount
Interest portion
Rate applied to the outstanding balance
Loan amount
× Interest rate
÷ Loan term
= Monthly payment
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Credit
What Lenders Actually See in Your Credit File
The entries that carry weight, the ones that do not, and how long each stays on record.
Student Loans
Student Loan Repayment: Thresholds, Interest and Balances
How repayment is calculated, when interest accrues, and why balances can rise while you pay.
Home Loans
Home Loan Deposits and Loan-to-Value Bands, Explained
What a deposit changes about pricing, and why lenders group applications into LTV bands.
Personal Loans
Personal Loan Eligibility: What Lenders Actually Check
Credit history, debt-to-income ratio, and documentation requirements, explained without jargon.
Debt Management
Debt Repayment Ordering: Avalanche, Snowball and Consolidation
How each approach affects total interest, timeline, and the risk of falling behind.
Loan Calculators
How Loan Calculators Work — And What They Leave Out
The amortisation formula behind repayment calculators, and the costs most tools exclude.
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Important information
Legamoney publishes educational information only. Nothing in this section is financial advice, a recommendation to borrow, or an offer of credit. Lending rules, rates, fees, and consumer protections differ by country, lender, and individual circumstances. Confirm any figure with the lender's own disclosure documents, and speak to a licensed adviser before making a borrowing decision. Read our editorial policy and full disclaimer.