Mortgage interest not added past few months

kellyr4

Registered User
Messages
52
I have a question over my mortgage. This may be stupid but sure its worth asking about.

I recently got my mortage set up on my AIB internet banking so I can closely see each monthly repayment hitting the mortgage account and see the principal amount reduce.

I am into the 3rd year of my mortage now. It is now at 5.1% Variable. the first year I made full prinicple and interest repayments and the second year I went interest only. Since June I am now back to full repayments.

While looking at the transactions on my internet banking I notice that interest has not been added to the mortgage balance since I went back to full repayments in June.

When I was on interest only, the internet banking would show my monthly repayment as a credit, and then the interest charged as a debit each month.

Now though since June, my full repayment shows as a credit and comes off the balance. Will interest be shown as a debit each quarter now or something?

My property is for sale at the moment. Does that mean when I go to clear my mortgage upon the sale, I will just have to pay the balance as shown on the internet banking?
 
Hi, I also have my mortgage set up on AIB internet banking & interest is applied every quarter.
I'm guessing that the balance of your mortgage owed will be calculated based on the principal AND interest owed on the day that the mortgage is payed regardless of what balance is shown on screen.
 
Looks like I should be getting a nice interest hit to add onto my mortgage balance very soon then.

Cheers