Annual Mortgage statement potentially changed balance outstanding?

JH13

Hello,

I was wondering if anyone may be able to help me please?

I've been trying to pay down my mortgage were possible since last December. My interest is calculated daily so I see the amount of interest paid each month reduce slightly. I have logged in online this morning so I can review and add to my spreadsheet the interest charged for October and my balance has decreased by approximately £600. The interest has gone on for October but the payments for 1st November have not yet registered off the balance yet.

I believe the annual mortgage statement is issued at the end of every October for me so I am wondering if this may affect the balance and if the over payments I have made might have reduced the balance owed.. or is the balance showing today likely to be an error?

I'm aiming to pay the full amount off allowed in this calendar year so as this has altered the starting balance of the year online I am not sure if this will have changed the amount that I am allowed to pay off without incurring a charge.

If anyone has had this happen or can shed any light on this I would be grateful for your feedback so I know whether to get excited at the lower balance or not.

Thank you

Thrugelmir

JH13 wrote: »

or is the balance showing today likely to be an error?

If you've tracked your balance every month online. An "error" or discrepancy would be very apparent. I cannot envisage any circumstance for the statement balance you are viewing to be incorrect.

getmore4less

lender would help as others with the same lender may have info.

anyone else will be guessing