What does a mortgage interest certificate actually show?

L

landlord

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Hi this may sound like a silly question but what does a mortgage interest certificate actually show?
I have many investment property INTEREST ONLY mortgages. Taking one of them as an example....
I have been paying the interest only figure of €145.76 per month all through 2017 2018 2019 and 2020. The ECB rate has been zero throughout these years.
and 12x €145.76 is €1749.12

My certificate for 2020 showed a figure of €1665.21????
The certificate for 2019 was €1743
The certificate for 2018 was €1749
The certificate for 2017 was €1749

if I’m paying exactly the same every month then why should the certificate for each year be different.?
specifically 2020 is significantly different.
 
Maybe something to do with day billing falls. But hard to explain 2020.

These calculations are arcane. I've never been able to quite replicate a bank's methodology, but never to a material extent.
 
It shows the interest actually applied to your account. What day of the month is it usually capitalised?

Remember, your payments are calculated as a fixed amount per month, regardless of the actual number of days in the month, so there will be a slight difference between the amount charged and paid. The difference between 2018 & 2019 looks like 1 days interest; could be a capitalisation date moving for a weekend or something.

NoRegretsCoyote said:
These calculations are arcane.
Click to expand...
Not at all. It's bread & butter for some people!
 
RedOnion said:
It shows the interest actually applied to your account. What day of the month is it usually capitalised?
Click to expand...

hi what do you mean by what day of the month is it usually capitalised?
The direct debit comes out of my bank on the 15th?
is it possible the bank has made a mistake regarding my 2020 mortgage interest certificate?
Thanks
 
landlord said:
hi what do you mean by what day of the month is it usually capitalised?
Click to expand...
What day is the interest posted to your account?

Do you have a statement?
You should have 2 transactions each month:
1. Your payment
2. The interest being charged
 
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