Hello Everyone
When one buys a house and you have a bond usually home owners insurance goes with this.
The Home Owners insurance is "added" to your bond monthly debit order. Ok so far all good
How should this work from there?
If the insurance is added to your outstanding capital say on the 3rd of each month and the debit order goes off on the first of the next month has one not paid interest on the total capital amount plus insurance?
In other words would one end up paying interest on the insurance cost as well?
When one buys a house and you have a bond usually home owners insurance goes with this.
The Home Owners insurance is "added" to your bond monthly debit order. Ok so far all good
How should this work from there?
If the insurance is added to your outstanding capital say on the 3rd of each month and the debit order goes off on the first of the next month has one not paid interest on the total capital amount plus insurance?
In other words would one end up paying interest on the insurance cost as well?
