D
davcot
Guest
I am with PTSB on ECB + 0.95%. Original loan € 106,900, remaining balance € 103,200. I received a letter two days ago saying that my interest rate had dropped from 4.2% to 3.45% in line with ECB cut of 0.75%. However they are looking for €14.00 more than last month. The call centre said it was due to a change in TRS. I do not understand this. We are in year 3 of our mortgage, so TRS should be going up to 22.5%. As TRS is a percentage of the interest charged, and the interest charged is dropping how can my repayment rise?