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Monthly interest question
spoony77
Posts: 30 Forumite
Hi people
I just checked my online banking (Halifax) and noticed my mortgage interest that they add on at the end of every calender month was over a £100 more this month than last month?
I'm on a fixed deal so shouldn't it be the same added every month?
Any help appreciated.
I just checked my online banking (Halifax) and noticed my mortgage interest that they add on at the end of every calender month was over a £100 more this month than last month?
I'm on a fixed deal so shouldn't it be the same added every month?
Any help appreciated.
0
Comments
-
how is your interest calculated?
what amount is remaining to be repaid to the bank?
how long is the term ?
what date do you pay every month?
when is the fixed started - when is it ending ?
what is the fixed interest rate ?
.....0 -
Depends on the number of days in the month, or the period charged for.
As the interest calculation will be done on a daily basis.
The set amount you pay every month allows for these fluctuations over the period of the fixed term.0
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