How can I check my mortgage statement?

angelak_3

With all the recent controversy about banks over charging etc one thing that always bothers me is the inability to actually check that they have calculated interest payments correctly and that the balance at the end of the year is what it should be.

I have a tracker mortgage so the interest rate changes every time the base rate does so I guess that makes it even harder to keep track of payments. I have just had my mortgage statement and although I have been overpaying £500 a month all year I don't seem to have paid much off my capital apart from my overpayment. I am 5 years into the mortgage.

Does anyone know if there is any software or a spreadsheet available that I can put my payments, plus overpayments in and also change the interest rate? I have seen a calculator that calculates the impact of overpayment but you can only put one interest rate in and it wont allow you to change the amount you overpay (I overpay more now than I did at the beginning).

Am I being unrealistic in asking if this exists. I would be happy to pay for or it if it helps me to be reassured.

Thanks

Angela

Andy_Hamilton

I put this one http://supermortgageguide.com/content/view/73/51/
into excel then just when the rates change copy the spread sheet and start again. You can enter a date so it does keep up to date.

Just 11 years for me if i work at it or 30 if I don't