PTSB tracker mortgage - anyone got the most recent ECB reduction yet.

T

thejuggler

Registered User
Messages
133
I got the 0.75 reduction at the start of January but the subsequent 0.25 reduction has yet to be applied. I am on a 1.68% margin tracker. Have they applied it yet?
 
No , not yet.

Based on the past reductions I think we will get it early next month.
 
Hi,

I'm on a tracker +0.80 and I got the 0.5 cut last week according to my open24 it is now down to 2.80.

angela59
 
The 0.5% cut in January was applied to tracker mortgages by PTSB on the 13th February. See [broken link removed].

However they have a complicated way of applying the rate change to payments. Payments only change in the month of the interest reduction if they are made 15 days after the rate change by PTSB. If the payment is due within 15 days of the rate change the old repayment applies and the extra money paid is subtracted from the capital amount.

As 13 + 15 = 28 it is likely that all PTSB tracker mortgage repayments in February were the same as they had been in January. All repayments in March will be at the new level.

Complicated, I know, and you can get even more confused by reading this: [broken link removed]
 
Ironically the letter from ptsb about the reduction just arrived this morning - should have been more patient. Thanks all!
 

I was in similar situation last month, they switched to the rate I expected without an options letter. Likewise I had spoken to an agent who confused the matter.
 
You must log in or register to reply here.
Menu
Log in
Register