Mortgage account decrementing by payment sum rather than Principal component

Liam Mercer's Avatar

Liam Mercer

26 Nov, 2020 08:35 AM

Hi folks

I'm having a problem with a Mortgage account.
This is a repayment mortgage. I pay a monthly amount, which consists of some capital repayment and some interest payment. I would expect that the mortgage balance would be reduced by the capital repayment amount, but in fact it's being reduced by the full amount I'm paying.
I've tried triggering the transaction manually so that it is calculated on the date required, rather than scheduling it as a reminder (so I can see my balance into the future) but this hasn't made any difference.
Has anyone seen this before, and if so would you know what might be causing it?
This is the 2019.3 (1880) version

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