corinthion
Registered User
- Messages
- 6
I was pleasantly surprised to get a rate change notification letter from PTSB on Thursday regarding my mortgage repayment of 2nd August. It seems my new rate is effective July 30th. With previous decreases they have tended to take much longer to pass them on and been very quick to pass on rate increases.
the rate is usually announced on the first thursday of the month and does not take effect in the ecb until the next wednesday.
the banks then have as much as the contracts say to amend the rates on the mortgages.
most will say they have 30 days.
this is 30 days from the actual rate change and not the announcement.
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