Amount being removed from capital varies month to month?

M

Max Power

Guest
Hello,
I was hoping someone could help me here with a question. I've been trying to figure out how our bank (Permanant TSB) is calculating the amount that comes off the capital amount owed.

The original loan was 35 year €252724.00 Tracker Home Loan. ECB + 1.10%
It is now down to €242083.96 after 38 months
Our TRS: €202.36
Principal & Interest: €1080.38

Now the question is the last mortgage brought the outstanding amount owed down by €237.16 but the month before it came down by €271.71

Other months vary also, now I can understand if it varied a very small amount as the interest owed is reduced as you pay off your mortgage but not by this much surely?

Is there something I'm missing as neither the percentage of interest owed, TRS or monthly pay has changed?
 
Is it that the interest charged each month on the outstanding balance is charged on a daily basis ie 31 days in May, 30 in June, etc ?
 
That looks right - if you work from the interest figure.
 
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