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Can someone explain my mortgage breakdown pls?
hobbit84
Posts: 13 Forumite
Hi all,
My head is a bit scrambled and I need help! Today we made a lump sum overpayment of £3000 off our mortgage. I asked for a statement of what we owed and I'm a bit confused with the printout. So it reads as follows:
INTEREST: 2155.84
PRINCIPAL: 167719.87
AMOUNT OWING: 169875.71
MTG DISCHARGE FEE: 175
AMOUNT TO REPAY: 170050.71
ONE DAY: 16.271
So...I understand the mtg discharge fee is the fee to pay the mortgage in full. And the one day is the interest we pay per day (eek!). It's the interest, principal and amount owing figures I'm not sure about. I'm also hoping the £3000 we paid isn't showing up because I hoped it would take us well below the £170k!
Any advice appreciated, thanks in advance.
Emily x
My head is a bit scrambled and I need help! Today we made a lump sum overpayment of £3000 off our mortgage. I asked for a statement of what we owed and I'm a bit confused with the printout. So it reads as follows:
INTEREST: 2155.84
PRINCIPAL: 167719.87
AMOUNT OWING: 169875.71
MTG DISCHARGE FEE: 175
AMOUNT TO REPAY: 170050.71
ONE DAY: 16.271
So...I understand the mtg discharge fee is the fee to pay the mortgage in full. And the one day is the interest we pay per day (eek!). It's the interest, principal and amount owing figures I'm not sure about. I'm also hoping the £3000 we paid isn't showing up because I hoped it would take us well below the £170k!
Any advice appreciated, thanks in advance.
Emily x
0
Comments
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Can I do a cheeky *bump* incase anyone who can help missed this...I did post during the England match!!0
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It will take a few days to come up on the mortgage statement and the "cheque" to clear.
You only pay the £175 fee when you clear the mortgage so not till the end.
How long have you have the mortgage and is the interest since the 1st Janurary this year.0
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