Knowing your o/s mortgage value

jackomdj

How do you know what the outstanding value is on your mortgage?

I have a spreadsheet which calculates everything for me, but as it is an offset mortgage & I don't do daily calculations it only gives me an approximation. I only get a statement from the bank once a qtr - do you all phone up every month to find out?

I have only been doing the spreadsheet for a few months & have not yet had a statement to see how far out my calculations are.

We are currently paying off an extra £200 per month from the mortgage.

In addition to this we are putting the following into an offset savings account:
Child Benefit £130
Tax Credit £93
Money saved from not paying endow £90 (endow cashed in £13k)
OH's co paying for broadband (as he works from home) £20
General Savings £50
My little business!! £250

We also use one of my parents accounts as an offset account £15k & we put £40 interest into this a month

We are drawing £500 from the savings a month to go into A&L's 12% interest account for the year, after which it will get put back into the offset account.

Nicky;)

darich

i know roughly what my oustanding amount is because the Nationwide displays the amounts and payments on the online banking.
It's updated monthly with the payments made but the interest is added annually although it's calculated daily i believe.