I have recently setup a mortgage account with 25 year (300 months) term and interest of 3.99% (first year rate) - capital / interest in different categories.
So far so good ...
But in about 6 months time, the interest rate will be increased to 4.25% but I don't see how it will recalculate the new repayments and what the new interest / capital split.
It would be great to add a feature to recalculate from next month using new rate. Is this possible?
over 2 years ago
Hello and thank you for writing to us about it!
We will be working on making the loan accounts more universal in order to support more complex formulas in one of the upcoming updates.