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Module 2
Question 1 of 152
Mortgage Products
What is the key difference between a repayment mortgage and an interest-only mortgage?
A
Repayment mortgages have no interest charged
B
With a repayment mortgage, each payment reduces both capital and interest; with interest-only, only interest is paid and the capital remains outstanding
C
Interest-only mortgages are only available to first-time buyers
D
There is no difference; they are two names for the same product
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