Mortgage with Ulster Bank? Check your statements carefully

I am reviewing my mortgage statement for last year. Given the amount of messing about Ulster Bank did with the debacle over TRS payments between March and December, I decided to pay extra special attention.

It looks like they have still not applied TRS correctly. So I went back through 2013 and 2012 to check just in case. Lo and behold, those years look wrong too.

As my mortgage was taken out within the 2004-2012 period, I should be receiving TRS at 30% (subject to the interest ceiling). As my interest payments since 2012 have been less than the ceiling, the calculation should be straightforward, 30% of the interest.

In the interests of simplicity I am not calculating the cost to me of the shortfall

2012
Interest charged: €2,780.88
Calculated TRS: 0.3 * (€2,780.88) = €834.26
TRS applied: €814.07 (including a correction of €135.70 they applied in December since they weren't able to apply the new TRS rates immediately)

shortfall: €20.19

2013
Interest charged: €2,183.96
Calculated TRS: 0.3 * (€2,183.96) = €655.19
TRS applied: €629.49

shortfall: €25.70

2014
I am still trying to figure out that statement. I think I might be €4 up due to credits applied (not TRS) after them screwing up in March, September and November.
Just looking at the TRS though, I am seeing a shortfall of €9

2010 and 2011 look correct.

I think it is worth keeping your own spreadsheet to keep an eye on mortgage payments. I have one set up and, rather pleasingly, my calculations were within 2c of our UB annual mortgage statement that we received last week (on a significant five figure sum). The difference was due to rounding (in our favour ) but it is quite useful to know exactly how much comes off the mortgage each month and how long is left. We don't have TRS but do overpay every month and the statement was correct in this regard.