Logged online to see that the RATE for our tracker mortgage has changed and gone up to 5.35%.
However the agreed monthly withdrawal (which has come out this month) has not - Same as it was for the whole year.
Rang PTSB and they advised that they haven't had time to increase the "Agreed Payment".
However they have had time to pay less capital this month and take out more interest, until such time they get around to increasing the monthly amount.
If you check out your amount left on your loan, you will see it doesn't change MUCH from last month (this is due to the fact they've taken more interest this month).
You will probably/may already have a letter outlining adjusted repayments.
This happened to us, online I could see the rate was adjusted, a week or two later, the repayment was adjusted in line with the new rate (and new TRS figure also), and then the letter...
As loll says, to come into effect in August.
hth
Fauve