Mortgage Payment Query

Lifes_Grand_Plan

Hi guys,

I have a question about my mortgage and want to check i'm not just being stupid before I ask the bank about it.

The link below will take you to a spreadsheet showing my recent mortgage history:

https://docs.google.com/spreadsheet/ccc?key=0AsWu_woP_tm7dEloQXIyZHFtVi00cnJSaC0ybDF0c3c&usp=sharing

(The first table)

My last statement was July this year and showed all of the payments up to and including 01/07/13.

Since then, my online banking only shows my payments and interest but not the balance after each payment so I created the spreadsheet to deduct the payment each month (£1000), less the interest each month, from the balance to give the new balance (highlighted orange).

However I can also check my current balance on the mortgage which is the last balance figure on the sheet (£63,670) but if I had worked my calculations (orange cells) down to that point (it would actually show £62,823 as per the second table below the above one.

So I am struggling to see where the £847 discrepancy has come in.

Anyone able to help?

dotdash79

Are you counting each months payments as having the same number of days interest?

Imma_Number

I'm confused by your spreadsheet:
1) You have 2/9/2013 twice in each table but with different balances.
2) I can't work out why the word WRONG is there. The numbers look ok to me.

Other than the £63,670.67 in cell E20 and the doubling up of September the balance is decreasing month by month as would be expected.

You could possibly also see the £846.85 discrepancy as £857.33 one way and £10.48 the other. Which could be approximately 2 days interest. Which is still odd that they've changed the way it's presented.

Can you check the balance daily?
Does it change?
If so by how much?

Lifes_Grand_Plan

dotdash79 wrote: »

Are you counting each months payments as having the same number of days interest?

The interest figure is what is downloaded from HSBC so I know they are correct (or at least HSBC have calculated them so they should be correct). Either way I haven't been involved in calculating them...

Lifes_Grand_Plan

Imma_Number wrote: »

I'm confused by your spreadsheet:
1) You have 2/9/2013 twice in each table but with different balances.
2) I can't work out why the word WRONG is there. The numbers look ok to me.

Other than the £63,670.67 in cell E20 and the doubling up of September the balance is decreasing month by month as would be expected.

You could possibly also see the £846.85 discrepancy as £857.33 one way and £10.48 the other. Which could be approximately 2 days interest. Which is still odd that they've changed the way it's presented.

Can you check the balance daily?
Does it change?
If so by how much?

A-haaaaaa, THANK YOU!!!! :beer:

I had included September twice which effectively added in a payment of £847 that I hadn't ever actually made so that was why it was wrong.

Take that phantom payment out and it all works out.