Hi Sophrosyne,
I had TRS applied to my mortgage recently and assumed that my repayments would decrease by the allowed amount.The monthly repayment was reduced but when I looked at the amount owed on my mortgage the TRS applied had been taken from the portion of repayment that would normally reduce the principal whereas I assumed it would come off the interest.l'm probably being really dense here but doesn't that mean that I will be paying more interest in the long run?Unfortunately, this isn't a momentary lapse into stupidity-I asked this same bank if I was entitled to TRS a number of years ago and in my naivety believed them.Managed to get a tidy sum back from revenue though