ohhh it is!
Of course it is!
Just to confirm.........the apartment is 44,000, you're borrowing 10,000 over 5 years and finding the 34,000 yourself......right?
In that case your paying 14,000 extra on the 10,000.......over 5 years. That's nearly 3,000 per annum, practically 30% per year.
14,000 is what you would pay back on a mortgage, over 25 years,... NOT 5. The total you should be looking to repay is probably around 13,000 - 15,000 over 5 years. That would be normal. The shorter the period the less interest.....the less you pay!
Which bank is this?........
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