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.
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.