EBS tracker mortgage reduction lead to 90c increase in December hows that?

C

cill dara34

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I recieved a letter on the 20th of november from the EBS about the reduction of .50% in interest rates on a tracker mortgage which brought the repayment to 738.37. then on the 10th of december i recieved a letter from them saying about another further reduction of .75% on the mortgage but the repayments went up by 90c to 739.27 can anyone explain this i have tried ring them but find it nearly impossible to get trough
 
Re: Ebs

The repayments from January would include changes to your entitlement to Tax Relief at Source which might explain the increase?

I'm with EBS (standard variable mortgage), and the reduction in my repayments after the 0.75% was applied wasn't as great as the reduction after the 0.5% was applied (0.5% reduced repayment by about 15 euro, 0.75% reduced repayment by 8 euro - yes, it's a small mortgage!!)
 
Re: Ebs

It's very possible that because you are receiving less interest relief (because you are paying less interest) your mortgage repayment could be increased.
 
Re: Ebs

To expand on my earlier post, I got the TRS letter from EBS yesterday.

My TRS for 2008 was 50.95 per month.
My TRS for 2009 is 27.97 per month

I'm in year 4 of a 20 year mortgage, not a first time buyer.

The TRS change has eaten into the reductions from the % rate changes, as I mentioned earlier.
 
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