Just checking on mortgage interest charged on a mortgage.
I am paying off Interest and Principle on a mortgage with AIB.
On 16/03/2015 I was charged €800.27 interest.
On 16/06/2015 I was charged €838.92 interest.
No change in the Interest rate in the 2 quarters that I am talking about.
My question is despite reducing the amount over the 3 month period ending 16/06/2015 I have been charged more interest.
I am aware that Interest is charged on a daily basis but I cannot figure where there are more days in the quarter ending 16/06/2015 in comparison with quarter ending 16/03/2015.
Maybe I am missing something obvious.
I am paying off Interest and Principle on a mortgage with AIB.
On 16/03/2015 I was charged €800.27 interest.
On 16/06/2015 I was charged €838.92 interest.
No change in the Interest rate in the 2 quarters that I am talking about.
My question is despite reducing the amount over the 3 month period ending 16/06/2015 I have been charged more interest.
I am aware that Interest is charged on a daily basis but I cannot figure where there are more days in the quarter ending 16/06/2015 in comparison with quarter ending 16/03/2015.
Maybe I am missing something obvious.