mortage interest cut

F

fed up

Guest
just looking for some advice.Have a 250k mortage with ptsb at a 3.5% tracker.On interest only which was about 611 euros and have just paid my latest installment which was 603 euros . Cant understand why a .25% rate cut only brings a 250k mortage down 8 euros.
 
I would suggest that the rate decrease will not kick in until your December repayment, the ECB rate decrease announcement was only about 3 weeks ago.

Give them a call and ask ?
 
Thanks for your reply.Latest payment was made yesterday so got my partner to ring today and ask how much it was as we recieved no letter regarding the interest cut.They told her it was 603 euros and the december payment will be the same and as it is 8 euros cheaper than last month they have applied a reduction just not anywhere near the full reduction.
 
possibly the rate cut was applied at some stage in the month.

also, don't forget the TRS will also be affected and will drop a little - your net full month drop will be about €40
 
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