First Active interest doesn't add up?

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pennypincher

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I'm just wondering if someone can explain to me if the following calculation is wrong.I have a FA CAM,Lets say I was paying 150 Euros a month in interest the rest was capital but then I added my SSIA which effectively halved my capital owed...my understanding is my interest owed should also halve(75Euro) but yet it's nearer to 100Euro...how is this?
 
I'm going to ring them on Tuesday but in my past experiences I found the phone staff were not able to understand the detail of what I was saying and talk me through the calculations.Karl's calculator doesn't allow me to plug in my exact figures but it might get me close.I was hoping someone would explain that my rough calculation of interest was wrong because I forgot something?
Does my theory still stand if I'm paying 150 Euro in interest a month and halve what I owe I should be then only paying around 75Euro in interest?
 
Cant see any reason why you are not right, presume you are looking at a full calendar month with no other transactions to muddy the water. It should be as simple as you say for the interest portion of the repayment, actual repayment amount should not vary other than a possible adjustment of the TRS are you will be paying less interest. Let us know what answer you get.
 
KerryG said:
... actual repayment amount should not vary other than a possible adjustment of the TRS are you will be paying less interest....
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And could that be your answer there?
THe fact that TRS will probably be reduced, so previous you were paying (interest on 2x) -TRS
Now you are paying (interest on X) - (lower TRS)
 
pennypincher said:
I'm going to ring them on Tuesday but in my past experiences I found the phone staff were not able to understand the detail of what I was saying and talk me through the calculations.
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Don't ring - put your query in writing asking them to reply in writing.
 
Good point clubman,in the past when I was in discussions on the phone the first question I was asked was who I was talking to last!I think the TRS deduction scenario might be accurate but considering I 've identified to First active other issues where they over charged me and even under charged me for mortgage payments I'll stick with this one and get it in writing.
 
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