PTSB Mortgage balance adjustment

[AppleSun]

Can you clear something up for me.

my 'Loan Balance Adjustment' is 62k
Net refund of overpayments is 4.9k
Plus approx 6k comp

So am I right in thinking that I have not paid an additional 62k? I've only overpaid 4.9k?
How is that possible if I should have been on 0.8 +ECB rate for last 7 years?

 

[Brendan Burgess]

Hi Apple

I am not sure that there is a simple explanation. I have done worked examples here:

Calculating the refund when a tracker is restored

If you want to provide figures such as details of any rescheduling , the balance on your mortgage, and the amount of arrears, I will try to explain it in numbers.

Brendan

 

[Brendan Burgess]

OK, I see from this one that you are on a split mortgage

http://www.askaboutmoney.com/threads/how-will-split-mortgages-be-treated.195082/#post-1440046

That is even more complicated and I have explained it here:

ptsb may be getting calculations on some split mortgages wrong

Brendan

 

[oakie2015]

This may be covered elsewhere but can anyone explain or direct me to the post that explains the balance adjustment please? We have been told we are due approx €23k in overpayments additionally our mortgage balance is to be adjusted by approximately €10k

As far as I can see the explanation is that this is the balance we would have if the error hadn't occurred, but I just don't understand it - is our actual overpayment a combination of the 2 figures - I'm sorry I'm just not understanding it, our mortgage is not split or anything, I'd really appreciate an explanation in layman's terms

 

[AppleSun]

I'm not understanding it either Oakie!

 

[Brendan Burgess]

OK, I have had another go at explaining it in this thread:

My third attempt at explaining refunds and account adjustments...

 

[Ger Fleming]

Given their record for mistakes I believe it would be a good idea to check out mortgage repayments even if one is on a vmr. I don't think ptsb can be trusted. I'm considering getting someone to go through my repayments since I took out my mortgage in 2006. Am I loosing it?

 

[Bronte]

Am I loosing it?

No. You couldn't be half clever enough with banks.

The bank manager of my account rang me a couple of years ago to say they'd been overcharging me and I got a five figures sum back. He noticed it by accident when he was having a meeting about accounts like mine. (commercial loan on investment property)