TRS not changed to 30%

Rang UB last friday.... they advised that they have no idea when they will be able pass on the 30% to customers!
 
Rang UB again & was told that my TRS wont be sorted out until December. I know some people might think "sure as long as you get it then what does it matter", well it matters to me because its my money & it should have been sorted out sooner, December is not good enough.
 
There was an article in the Sunday Times a few weeks ago stating that they would apply the full 30% in December, and backdated. However it also said they are applying the 25% to customers now - is that true? How can one tell?

I would like to know whether to expect a €300 or €600 reduction in December!
 
mollser;1280821 However it also said they are applying the 25% to customers now - is that true? How can one tell? ![/QUOTE said:
just ring them and ask, they will have the information on their mortgage systems.
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I got a letter today from PTSB dated 17th August saying they made a mistake with the TRS over a period, but it doesn't state the period in question. I've read the letter a few times and the only things that are clear is an interest overcharge of €12 and reducing the loan balance by about €400.
 
I received a similar letter. I had thought they might be playing games with the TRS going up to 30% and that backlog (revenue passed on double the normal TRS in June).
I rang PTSB but hadnt a clue what the guy was on about.
I actually started looking around this site for the 1st time to see if I could find an accountant who specialises in throwing an independent eye over mortgage payments.

I rang revenue yesterday who were able to tell me what TRS I had received every month this year.

The strange thing is that , even though the last ECB interest rate cut is kicking in next month, I am informed by PTSB that my next payment will only be reduced by €3, hence my looking for an independent auditor so I can find out what is actually going on
 
Flibble said:
I received a similar letter. I had thought they might be playing games with the TRS going up to 30% and that backlog (revenue passed on double the normal TRS in June).
I rang PTSB but hadnt a clue what the guy was on about.
I actually started looking around this site for the 1st time to see if I could find an accountant who specialises in throwing an independent eye over mortgage payments.

I rang revenue yesterday who were able to tell me what TRS I had received every month this year.

The strange thing is that , even though the last ECB interest rate cut is kicking in next month, I am informed by PTSB that my next payment will only be reduced by €3, hence my looking for an independent auditor so I can find out what is actually going on
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There must be more than just we 2 customers affected. I will phone them when I get a chance asking for a more detailed explanation in writing. I am an accountant and their letter doesn't explain in sufficient detail for me. I need to see calculations etc.
 
I got one of those letters aswell.

End result was I got €532 knocked off my outstanding mortgage amount and €22 off each months payments .

I am in year 8 of my mortgage so found it strange when I read the letter about a TRS error.

Called them and the guy was very vague, said that they (Ptsb) had been applying too much TRS to my account over a period of time ,hence my principle amount should have been lowered more.
Because of this error the corrected my outstanding principle amount and my repayments would now reflect this.

I asked how come if I was not paying enough tax that they owed me money.
He said it's for my benifit this way .

I'm still confused .
 
We also got a similar letter from Ptsb.

When I phoned the explanation seemed to be that they for some reason had been applying Decembers TRS amount to January's payment since 2006 leading to the error. Haven't had a chance to look through our mortgage statements yet to see if this makes any sense....
 
I'm still confused.
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I think what has happened is you were entitled to more TRS each month than the bank/revenue were giving you. So you have paid more each month than you should have had.
Example (as I am not sure if I am explaining it very well)

Lets say your monthly payment was €1200 each month you pay €1000 and get €200 in TRS. However due to an error your TRS was only paid at a rate of €100 you would have to pay €1100 each month yourself. Therefore overpaying (as such) by €100 each month.

Hope that helps :)

On a final note, from what I understand the bank can't gain from an error like this. As such they have, as they have not offered to refund you the money 1st. Now you may decide that applying the money in the format they have is the best option for you but they should ask if you want a refund as you have overpaid.
 
@STEINER...
Can you let us know how you get on?
When my next payment goes through I will write to them looking ofr astatement and an explanation as to how my repayments are only going down by 3 Euro after a drop in the mortgage rate.
 
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