# PTSB Mortgage Query



## Honda (27 Feb 2009)

Mortgage details:

Principal: €284,000
Rate: ECB + 0.95% Tracker = 2.95%
Term: 30 years

Remaining: €263570

I have a quick query. PSTB were meant to give the January ECB rate cut in February but I don't think its happened. I paid €1275 in January and was charged the same amount this month. By my calculations, I should have been charged €1,189.71 in February. Could someone confirm my calculations are correct before I contact them.

Thanks in advance.


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## stephnyc (27 Feb 2009)

Hi Honda.. I think it depends when in Feb your payment date is. We paid on Feb 6th and the Jan ECB rate had not been applied. 

You should be able to see your mortgage account online and see what the next payment will be (and deduce if the Jan ECB rate since been applied)

just dont get me started on how long they take to apply the rates!


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## Honda (27 Feb 2009)

stephnyc said:


> Hi Honda.. I think it depends when in Feb your payment date is. We paid on Feb 6th and the Jan ECB rate had not been applied.
> 
> You should be able to see your mortgage account online and see what the next payment will be (and deduce if the Jan ECB rate since been applied)
> 
> just dont get me started on how long they take to apply the rates!



Pay on the 23rd of every month.

The rate change was meant to come in on Feb 13th.


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## Taxi Driver (28 Feb 2009)

This has been discussed a few times before.  See here for one example.  The rate change came into effect on the 13th alright but payments within 15 days of the change are at the level of the previous month.  Something to do with giving two weeks notice of a repayment change.  You don't lose out apparently.  Follow the link for more.


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