Bug 288844

Version:           4.6.1 (using KDE 4.7.2) 
OS:                Linux

Hi,

NOTE. This may not be a bug, but rather a feature request.

First of all, KMymoney is a very nice tool so thank you for developing it.
It is easy to use and does what exactly I want.

BUG/FEATURE REQUEST :

The payment that KMymoney calculates when creating a loan account does not match what I was given by my bank for my UK mortgage.

This may be because the interests I have to pay every month are not re-calculated at each payment, but at the beginning of a 12 months period.
KMymoney basically gives two choices EITHER the interest rate gets recalculated when the payment is received OR when the payment is due.
In my case, I believe (but may be wrong) that my interest rate should be re-calculated every 12 payments.
I also played with the "Interest Compounding Frequency" field with no luck.

I am no expert in banking and therefore can not go into more details, but if it helps, I found the BBC mortgage calculator below doing exactly what I am after :
http://www.bbc.co.uk/homes/property/mortgagecalculator.shtml

Many thanks to keep me informed,
Regards.

Laurent G.


Reproducible: Always

Steps to Reproduce:
Create a new loan account.
When the "Payment (Principal and interests)" field is calculated, the value does not match the BBC mortgage calculator results (whatever the values used are).

Actual Results:  
An example below :

A loan of £20000 at 5% for 5 years is calculated at £377.42 per month by KMymoney.
On the BBC mortgage calculator an equivalent loan would be £384.95 per month.

Expected Results:  
Maybe the software could leave the choice of calculating the interest rate every X payments intead of automatically recalculating it for each payment.