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Hello,
I am trying to understand the logistics of this. We were fortunate enough to get our tracker back. We received a letter saying our tracker would be restored and we would receive back payments in interest and capital to when we should of initially been returned to tracker. We received the overpayments of capital as cash refund and the interest we were told sits on the account so we accepted that.
This month I noticed that our montly payments had gone up from the previous month. When I rang the bank they explained that our TRS has stopped as we are in interest credit for the year more than likely so our payments have gone up by the TRS amount for 2012.
Maybe I am not fully getting this but its feels like we are loosing out on the TRS for this year because of the banks mistake ?.
We also need to contact revenue to explain that our tracker rate has been backdated so we will owe revenue the difference for that period which I understand but dont get loosing out this year.
If someone could explain it to me I would be grateful.
Thanks !.
I am trying to understand the logistics of this. We were fortunate enough to get our tracker back. We received a letter saying our tracker would be restored and we would receive back payments in interest and capital to when we should of initially been returned to tracker. We received the overpayments of capital as cash refund and the interest we were told sits on the account so we accepted that.
This month I noticed that our montly payments had gone up from the previous month. When I rang the bank they explained that our TRS has stopped as we are in interest credit for the year more than likely so our payments have gone up by the TRS amount for 2012.
Maybe I am not fully getting this but its feels like we are loosing out on the TRS for this year because of the banks mistake ?.
We also need to contact revenue to explain that our tracker rate has been backdated so we will owe revenue the difference for that period which I understand but dont get loosing out this year.
If someone could explain it to me I would be grateful.
Thanks !.