# PTSB Tracker & ECB Rate Rise



## Skinner1 (29 Dec 2005)

Hi,

With the recent rise in the ECB rate I was expecting my monthly repayment on my PTSB tracker to have increased for my Dec repayment but it hasn't. 

Should it have increased automatically? I haven't had any letter from them saying that the .25% increase was being applied, I just assumed it would be automatically tracking and apply the increase. I'm a bit confused  

Thanks


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## ClubMan (29 Dec 2005)

What do the terms & conditions of your loan agreement say about when _ECB_ rate changes are reflected in your mortgage rate?


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## Skinner1 (29 Dec 2005)

Not sure what the loan agreement says about this I just made the assumption that a tracker would automatically reflect any increase / decrease in rates. 

I'll go and check the t & c of the loan agreement - thanks


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## CCOVICH (30 Dec 2005)

Skinner1 said:
			
		

> Hi,
> 
> With the recent rise in the ECB rate I was expecting my monthly repayment on my PTSB tracker to have increased for my Dec repayment but it hasn't.
> 
> ...


 
We're on an Ulster Bank tracker mortgage and received notice of the increase in our repayment just before Xmas.  I would presume that your payment will increase from Janurary, but you should get a letter to inform you in advance.


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## WizardDr (2 Jan 2006)

The interest rate on trackers usually changes within a set period .. such as 5 working days of the 'repo' change. Have no fear on that count. When the 'repyament' changes would usually be the 'next' one. This is the first rate change since the Trackers have been brought in, so how the various institutions change the payments might not be faultless.


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