Barclays offset mortgage and strange calculcations

tiggerjj

Hey guys,
Trying to keep on top of my finances and being a weird lover of excel I made my own little excel sheet, and so spent some time looking rather carefully at every line of the mortgage statement...

I have an Barclays woolwhich Offset mortgage BBBR +2.49%

31 Dec 11 Offset Balance 60,765.89, Offset Benefit 5.810217 which agrees with my excel sheet, as does all the dates before this.

01 Jan 12 Offset Balance 60,765.89, Offset Benefit 5.794343.

I have spoken to Barclays who don't really seem to know what is going on and are looking into it. Im pretty sure that assuming the Offset Balance and Interest are the same, the offset benefit should be the same?

Maybe I have missed something??? Does anyone else have the same situation?

Thanks guys!

tiggerjj

I have solved my own problem, as interest is calculated daily, the cell divides the result by 365, but 2012 is a leap year and so should be divided by 366, now it is matching the Woolwich Statement again,