# UB and TRS - changing payments on ecb rate change



## octopus (4 Jul 2014)

Hi all.

Something similar is happening with my tracker account at the moment. Hopefully someone here might have some insight.

Two interest rate cuts ago I recieved a letter from UB with my new monthly repayment which was more than my previous payment. I rang the bank and they told me that as i'm on a tracker and as the interest rate is so low my TRS rate has increased. I have the mortgage about 7 years so possibly there is a rate change in there somewhere but the bank staff couldn't explain all this very well. 
About four months ago my monthly mortgage payment was cut and when I checked my statement I found that I had recieved a rebate on the mortgage from revenue, just for that month. I presumed that UB had miscalculated and this was the shortfall. Next month was the usual payment, I rank the bank again and got the same answer re getting less TRS as I was paying less interest.
Last week another letter from UB, due to the recent interest rate cut heres your new monthly repayment. An increase again. It also stated that there was an error with the revenue rebate and that this would have to be repaid.
Luckily these increases are only a couple of euro so not great cause for concern but it's the fact that UB don't seem to know what they are doing.

So can someone explain.
1. How can my tracker increase (due to TRS) for the last two interest rate cuts?
2. How can revenue rebate on my mortage repayment and UB overrule that rebate?

Hope all the above makes sense, bit of a ramble.


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