Query re tracker mortgage repayments.

[kerryman05]

We have a tracker mortgage with ulster bank which is @ ECB rate +1.05%. Looking back over some statements I noticed that the repayments increased €20 when the ECB rate went up 0.25% in July and with the recent 1% decrease in oct & nov the repayment went down €50, should it not have decreased by about €80?

 

[c00lcarl]

the calcualtion will depend on your lump sum and any amount you may have paid off that, also mortgage interest relief may be a factor, you should query the amount with your bank or mortgage broker if you are unsure

 

[Peckham]

We are also on a UB Tracker mortgage. We got a letter from them a few weeks back to say there had been an error with their rate cuts which meant that the full value wasn't passed on in Oct/Nov (can't remember which), but that it would be rectified in the subsequent payment. Maybe this is the case with yours?