First Time Poster - interest advice please

wolvodave

Hi all,

First time post and a question that is troubling me...

we have a mortgage which tracks at 1% above base rate and so has been at 1.5% for quite a while now.:j

we are also overpaying every month however for some reason in some months the interest part of the payment is higher than previous months

why would the interest be higher when the total amount repayable is now lower and the interest rate has remained the same?

thanks for your help guys

Dave

opinions4u

It would help if you posted name of lender, dates, charges, credits etc to be honest.

Two initial thoughts from me.

1) Some months have a different number of days in to others.
2) There may be an ERC applied for overpayments.

Both guesses. No idea from the information posted tbh.