# Help on how to calculate what's owing on tracker scandal



## maunie (1 Dec 2017)

Just received my "letter"saying I'm affected and that I'm going back on tracker for my next payment.. delighted!!
Next step .  How to calculate what I'm owed. Apologies I'm a bit useless when it comes to figures/maths
For example 
2007 ecb was 3.75% and I was paying 5.65% (only slight diff i know) 
but in 2012 ecb was .75% and I was paying 4%
Can some give me a quick method on how to calculate one year and I'll figure it out after that ( I hope) 
My mortgage was €100k for 25 years


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## Brendan Burgess (2 Dec 2017)

Which lender? 

AIB and BoI sent a detailed calculation with the redress letter. Can you not check those? 

They are complicated.  

Brendan


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## maunie (3 Dec 2017)

Brendan I'm BOI. I'm awaiting my redress letter but want to calculate myself approx what I'm owed


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## Brendan Burgess (3 Dec 2017)

maunie said:


> I'm a bit useless when it comes to figures/maths



If so, then you have no chance whatsoever of calculating it or even estimating it.

Brendan


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## Brendan Burgess (3 Dec 2017)

Based on your figures, the difference was 3% in later years, so that would be around €3k a year. 

From 2010 to 2012, the difference was less. 

A very rough guesstimate would be €2k a year for 7 years - €14k 

Brendan


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## DCH247 (4 Dec 2017)

I work in accounts and am quite the excel person also but I’m struggling to see how I work it out also. I’m an Ulster Bank customer out of fixed rate since August 2010 so tracker was missing until reinstated in March 2017. I make that 74ish over payments in total (extra due to UB accidentally forgetting to change the fixed rate figure for 2 months in 2010) all this based on a 200k mortgage over 25 years! Any advise Brendan would be immeasurable...


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## maunie (4 Dec 2017)

Thanks Brendan. Had figured around €15k so not that off ur figure. Guess I will have to wait and see what letter offers


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## RichInSpirit (5 Dec 2017)

It could be working out by doing a schedule of all payments down a column in Excel at whatever interest rate you were charged. And another column down calculated at the tracker rate that you should have been charged. And subtract the sum of one column from the other.


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## maunie (5 Dec 2017)

RichInSpirit said:


> It could be working out by doing a schedule of all payments down a column in Excel at whatever interest rate you were charged. And another column down calculated at the tracker rate that you should have been charged. And subtract the sum of one column from the other.


Thanks Rich..


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