Mortgage Early Repayment
Created by: Support Exirio
Modified on: Mon, 5 Jul, 2021 at 9:31 PM
If you want to account for the early repayment of a mortgage, you will need to follow a couple of steps.
- Firstly, go into your holdings table, find the mortgage, take note of the outstanding balance and delete it
- Secondly, account for a Deposit in the investment that mortgage relates to, for an amount equal to the repayment amount (the outstanding balance as per the previous point)
- Lastly, update the Valuation of the Asset to what it was before deleting the mortgage (or whatever other updated valuation may be appropriate)
Don't worry, we will soon include an "Early Repayment" button that will take care of all these steps automatically. Bear with us until then!
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