Anyone have a fixed rate mortgage from Natwest and know what the 'minus' figures are?

brodeo

Hello guys :wave:

Apologies if this has already been covered, please feel free to tell me where to go if it has

So, we have a 2 year fixed mortgage from Natwest. I'm a bit of a geek and always check our online account (mainly to see that figure slowly chip away!)

Recently I've noticed that there are some minus figures listed in our statement, along with our monthly repayments. I'm assuming this is the interest, but they're always different amounts. As we're fixed, I thought that the interest would be the same each month? Or this figure would at least get lower and lower as we chip away at the loan? This month the interest is about £20 more than the last month. And it seems to jump around sporadically as if it's not fixed.

This is our first mortgage, and we've only had it for a few months, so I may just be being really dumb, but Natwest's online chat help couldn't answer my question as the online chat isn't a 'mortgage specialist' and I feel a bit silly asking phoning in for what could be a really silly request.

I wondered if anyone else has experienced this?

Thanks in advance :j

foxy-stoat

Interest rate is fixed, interest charged at that rate will vary as they charge for the number of days in each month that you owe the money and as you clear some capital the interest charged will reduce slightly, sometimes it goes up a few pound....mine went up by £15 one month then dropped £30 the next.

I wouldnt worry too much about it.

getmore4less

Might be Daily interest, months are different lengths and payments get moved by weekends/BH.

brodeo

I see, thanks both!