Personal and income details
Net Teacher (permanent since late last year) take home €2545 per month.
Net income partner/spouse: Private sector p/t €1550 per month
Income history:
Number of children 3
Amount of child benefit received €390
Amount of Mortgage Interest Supplement received 0
Home loan
Lender: ptsb
Amount outstanding: €304k
Value of home: €197,000
Interest rate: SVR 4.34%
Monthly repayment: Currently paying full repayment of €1536 for last 6 months. Pay in two tranches of €770 over the phone, as I get paid every fortnight.
Amount in arrears €8700
Credit card €1.5k
Summary of discussions and agreements with the bank:
Had a 3 month full moratorium, then interest only for 3 months and half-payments for 6 months last year when I was not working full-time. Was working casually and wife had no job, but made the repayments requested each month. Working full time since October 2012, and making full repayments of the amount due since November 2012. Was told by ptsb that we needed to make full repayments for 6 months to apply for a recapitalization of the interest. Did all of this by paying every 2 weeks over the phone, and finally got an appointment lat month, gave full financial statement.
At interview, was quoted a figure of €1586 to re-cap arrears, and was delighted with this. We waited and waited and today get our offer....................of a moratorium to temporarily re-pay €1351, with a repayment amount of €1546 for the term of the mortgage afterwards of €1546 per month. Without restructure, ptsb say the repayment amount will be €1612.
Not happy about this at all today, and drafting a letter to ptsb to appeal. Never had to do this before, what should I say? All advice appreciated....
Edit: can anyone change the typo in the title?
Net Teacher (permanent since late last year) take home €2545 per month.
Net income partner/spouse: Private sector p/t €1550 per month
Income history:
Number of children 3
Amount of child benefit received €390
Amount of Mortgage Interest Supplement received 0
Home loan
Lender: ptsb
Amount outstanding: €304k
Value of home: €197,000
Interest rate: SVR 4.34%
Monthly repayment: Currently paying full repayment of €1536 for last 6 months. Pay in two tranches of €770 over the phone, as I get paid every fortnight.
Amount in arrears €8700
Credit card €1.5k
Summary of discussions and agreements with the bank:
Had a 3 month full moratorium, then interest only for 3 months and half-payments for 6 months last year when I was not working full-time. Was working casually and wife had no job, but made the repayments requested each month. Working full time since October 2012, and making full repayments of the amount due since November 2012. Was told by ptsb that we needed to make full repayments for 6 months to apply for a recapitalization of the interest. Did all of this by paying every 2 weeks over the phone, and finally got an appointment lat month, gave full financial statement.
At interview, was quoted a figure of €1586 to re-cap arrears, and was delighted with this. We waited and waited and today get our offer....................of a moratorium to temporarily re-pay €1351, with a repayment amount of €1546 for the term of the mortgage afterwards of €1546 per month. Without restructure, ptsb say the repayment amount will be €1612.
Not happy about this at all today, and drafting a letter to ptsb to appeal. Never had to do this before, what should I say? All advice appreciated....
Edit: can anyone change the typo in the title?