Re: Offset Mortgage Question

In message <1180278492.496854.50970@xxxxxxxxxxxxxxxxxxxxxxxxxxxx>, Ed_Zep <ed_zep@xxxxxxxxxxxx> writes
On May 27, 12:01 pm, John Boyle <j...@xxxxxxxxxxxxxxxxxxxxxx> wrote:
In message <1180260572.188142.218...@xxxxxxxxxxxxxxxxxxxxxxxxxxx>,
Ed_Zep <ed_...@xxxxxxxxxxxx> writes
>Thanks. I guess my point to my clumsily phrased question is that I
>really think tha the lender should be illustrating this in each
>mortgage statement.
>I wonder how many do.
Your mortgage offer/T&Cs will explain that interest is calculated on a
daily basis.
But are you suggesting the actual calculation should be shown on a daily
basis?
I would merely want the effect of the offset to be shown on the yearly
statement.

I've seen Mortgage Trust flexible/offsets/current account mortgage/whatever you want to call thems, and they send out monthly statements on theirs plus you can apply for online access to monitor things on a more regular basis.

So if you wanted to you could take the data and chuck it into a spread *** and do it that way.

--
Timothy

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