Are you suggesting that PTSB potentially don't charge for interest between redemption letter and receiving the funds if it's less than 20 days??PTSB put a moratiorium on interest for 20 days from issuance of redemption
Are you suggesting that PTSB potentially don't charge for interest between redemption letter and receiving the funds if it's less than 20 days??
Doesnt matter to me at this stage if solictor didnt do something correctly. All that matters is the bottom line.
I have to say it's the first I've heard of it!yes. all banks do it to varying intervals. That way there is no remainder amount between finding out how much is owed then delay for solicitor drawing down and transferring. Otherwise the redemption figure is a moving goalpost.
Interest doesn't compound daily. Calculating daily interest is one if the easiest things to do.can't hardcode a value for interest to be charged - with compound interest, the daily interest goes up as the outstanding does.
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