Current account mortgage

[Nigel Titley]

I'm not exactly new to Gnucash, but I'm not an accounting expert and I
can't get my head around how to represent my current account
mortgage in Gnucash.

A current account mortgage, if you haven't come across one, is basically
where you roll all your accounts into one, savings, mortgage, and
current (checking). This has the advantage of reducing your mortgage
interest payments (because your savings go towards reducing your
mortgage interest, and so does your monthly pay cheque (as interest is
calculated daily)). It looks like a large overdraught which you agree to
pay off at an agreed rate. It is secured against your house. However, it
does mean that it is very easy to lose track of exactly where you are.
I've tried to model the whole thing using sub-accounts, one for my
notional checking account, one for my savings account, and one for the
mortgage loan. I then make a transfer from the checking sub-account to
the mortgage sub-account to model the amount I'm paying off each month. 

Problem is, I've just extended/increased my mortgage. How do I model
this?

Nigel
-- 
Nigel Titley <nigel at packetexchange.net>
PacketExchange Ltd
-- 
"This mess is so big and so deep and so tall, we cannot pick it up, 
there is no way at all": The Cat in the Hat.