PTSB PTSB Tracker - when does rate cut take effect?

I have never got a lettter from PTSB about either the raise earlier in the year or the cut. However the raise was applied and the first cut was applied to my payment that came out yesterday.
 
I got my letter last week for the first cut and the cut had been applied to my mortgage that went out on the 1st of this month. Has anyone a clue if pstb will be passing on the new ecb rate cut? or is it too early to ask?
 
You will get the letter, It just depends on the date your mortgae comes out. If it comes out mid month you probably won't receive it for another few days.

If you pay your mortgage early in the month you should have got the letter by now.
 
Niallers said:
You will get the letter, It just depends on the date your mortgae comes out. If it comes out mid month you probably won't receive it for another few days.

If you pay your mortgage early in the month you should have got the letter by now.
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My mortgage is going out on the 19th.
 
Mine too. Was a week over due with repayment last month and got a warning letter.
 
korpy said:
My mortgage is going out on the 19th.
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You will receive it next week. The interest rate drop will have applied to you account and will be treated like you are overpaying. If you have internet banking you should be able to see a reduction probably today or Monday.
 
Something I was wondering about Open24...
When people say that the extra money paid because of the 16 day delay will be taken out of the interest, is that something that we'll see a change reflected in the Principal Balance value in Open24?
I notice that my Principal Balance stays the same for the first 10 months of the year and then it reduces after the 11th and 12th mortgage payment of the year come out. Is that because in the first few years of the mortgage, nearly all of your mortgage payments are going towards paying the interest with very little of the principal balance being paid off?
I also notice under arrears it says €1800 pre-paid. What's that? €1800 of my money that I didn't realise I had?
 
Joe Nonety said:
I also notice under arrears it says €1800 pre-paid. What's that? €1800 of my money that I didn't realise I had?
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Very likely!

You have to tell PTSB you want it taken off the loan for it to count. Otherwise it stays in that stupid holding account..
It could have been put there when you got your TRS sorted out and they paid the difference you missed in the first few months?
 
niallmur said:
my mortgage repayment was taken out today, the the payment has not come down? whats going on. its well over a month since the cut. has this happened to anyone else.
do you need to have a bank account in PTSB to see your mortgage online. this really ****es me off
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You do not need any other type of account with PTSB to view your mortgage account details online. You can call them and set up and Open24 online, I think the only info you need to give them is your mortgage account info and address. They sent me a notification later soon after taking a mortgage out with them instructing me how to set up the online banking.
 
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