Postby darrenmoo0 » Tue Mar 21, 2017 3:43 pm
Hi
Thanks for your reply.
I'm not sure, however, that you have understood my query correctly.
I am aware that I can amend past and future monthly mortgage payments as per the method you describe.
However, all previous mortgage payments have been recorded accurately in LV and do not therefore need amending.
As far as I can see, the method you suggest only allows me to amend past and future payments but does not facilitate making adjustments to the OUTSTANDING LOAN AMOUNT.
Also, as the mortgage is INTEREST ONLY any payments made do not alter the OUTSTANDING LOAN AMOUNT as no capital is being repaid.
It is the "OUTSTANDING LOAN AMOUNT" that I need to amend.
The lender has adjusted the OUTSTANDING LOAN BALANCE and I need to know how to do the same in LV i.e the balance has INCREASED from £79,934.91 to £79,940.25.
I have two mortgages to which this scenario applies where the lender has made a small amendment to the loan that has resulted in a slight increase to the OUTSTANDING LOAN BALANCE.
Additionally, when I come to redeem a mortgage, I will need to record, in LV, the amount that I have actually paid to pay off the OUTSTANDING LOAN BALANCE.
As the OUTSTANDING LOAN BALANCE is now MORE than the original OUTSTANDING LOAN AMOUNT recorded in LV, I need to update the software so that my final payment, when recorded in LV, does not exceed the OUTSTANDING LOAN AMOUNT held in LV.
In 'Property Tax Manager' it was pretty straightforward to update the mortgage balances in the software, if required, but I just can't work out how to do this in Landlord Vision.
I hope that I have explained myself clearly enough for you to understand my problem and I look forward to receiving further advice from you on how to resolve it.
Regards
Darren