Different trs amount each months

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dodo

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Quick question, When I get TRS debited back into my account, it seems to be different each month, I am on a 0.5 above ECB tracker, sometime, I seen on statement trs back into my account , Just wondering how this could be,how do I go about calculating, thanks
May 94 Euro
June 62 Euro,
July 78 Euro,
Aug 92 Euro,
Sept 78 Euro,
 
I had different TRS amounts last year too (and some of this year). Some difference depends on the length of the month, some depends on whether the interest rate changed (wasn't there a change in June? That could account for the increase between June and July). Some difference will also be attributable to your interest going down marginally each month (as portions are paid off the capital each month). However, when I queried the bank, they said to talk to the TRS section in Revenue, which I did. From recollection, I think they told be to talk to the bank (!) Anyway, the long and short of it is that it all matches up at the end of the year and that having slightly different amounts of TRS each month is fairly normal. So there seems to be a trend to have different amounts that don't appear to be related to any factors that you might think logical or might be able to calculate. You should definitely check your end of year statement though to make sure that you are getting the full 20% of total interest (up to the relevant limit)

Sprite
 
Is your mortgage with NIB? Same thing happens with my NIB LTV mortgage - they calculate TRS based on the interest you pay in a particular month, rather than smoothing it over the year as other mortgage providers do, and also rather annoyingly they don't deduct it off the monthly amount due, instead they deposit the amount of the TRS into your current account each month.
 
My mortgage is with PTSB. The TRS is listed as different amounts for each month in my mortgage annual statement too.
 
Sherman said:
rather annoyingly they don't deduct it off the monthly amount due, instead they deposit the amount of the TRS into your current account each month.
Click to expand...

I prefer it when your mortgage provider deposits it and then takes the mortgage seperately. Its much clearer... IIB does it too
 
Same for me daraghom. I'm with IIB. TRS credit goes in first, then mortgage comes out a day later. I find that handier. Also, my TRS is the same every month, also more convenient.
 
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