# BoS paying Time Value of Money at ECB + 3%



## Brendan Burgess (16 Nov 2020)

From a BoSI redress letter FAQ 






Say ten years ago BoSI charged me a margin of 1.5% instead of a margin of 1% or  €1,000 too much that year.

The following year, they charged me the mortgage rate on this which was probably ECB +1.5%

So I am getting the €1,000 back and interest at ECB + 3% 

Seems very fair.

Brendan


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## Brendan Burgess (16 Nov 2020)

Also from their FAQ





HMRC make our guys look very reasonable.


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## Banquo (16 Nov 2020)

Brendan Burgess said:


> From a BoSI redress letter FAQ
> 
> View attachment 5123
> 
> ...


Would I be right in assuming this should be compounded?


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## Brendan Burgess (16 Nov 2020)

Yes, and I would guess that they are doing so.

Brendan


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## Banquo (16 Nov 2020)

UB did theirs based on 3mth euribor with a 0.5% floor.


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