Interest rates cuts

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billy-bob

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So according to my records, my mortgage payment went up in July, and came down in December in line with the ECB cuts. Great, but for some reason, my payment this month was slightly higher than my payment in June, before the rise. It's only a difference of a few cents, admittedly, but if the cut in November was the same as the rise in July, shouldn't I be paying exactly the same as I was?

Just needed someone to confirm my thinking before I talk to my bank.
 
Could be they are balancing their books or something - rounding can cause a few cent to build up in arrears and then they take this in one payment?

I got a letter from my mortgage provider about a year ago saying that they had miscalculated the TRS and undercharged me but not to worry as they would cover the shortfall - a whole 2c!
 
Tks Mrs Vimes, that was my initial thought too, although none of the other changes in interest rates had a bobble like this (where it was a little higher one month and then 'settled down') and I didn't have anything like this Dec 2010 either. I'll wait til next month, see what the payment is then, but I'm determined to get to the bottom of this. And it's not only 2c, it's a whole 8c! Think of how many penny sweets I could get for that! Almost 9.
 
Mine the same as billy-bob. 25 cent higher. I am putting it down to the fact that it is the first payment on the new rate and there may have been a split month or something.
 
Interest rate cut

Anyone know if BOIare cutting their variable rate after recent ECB rate cut?
 
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