Increase in mortgage repayments

[naheem]

Hello All

We have just moved into our house and have just received our schedule of repayments from the bank. The repayment amount has increased by €290 per month over the amount in the original offer letter. I know interest rates have gone up by .25% in the interim but this represents an increase of over 1.25% can this be correct?

Any help/opinions would be great

 

[ACA]

Without knowing what a few more details - tracker, fixed or variable etc. naheem, its difficult to say. Have you contacted your lender directly? That would have been the first thing I would have done in the same situation.

 

[Howitzer]

Also you may not be getting your mortgage interest relief. You have to apply for this yourself but the banks apply it at source.