TRS - proof of calculations ?

Z

zag

Guest
Does anyone have any worked examples of TRS in action ?

The information I get from Irish Permo doesn't give me much to go on and while I can see the story with TRS on VHI I just don't understand it on the mortgage front.

For example - assume my repayments are €500 a month - Irish Permo indicates that the repayment on my account is €500 and my bank statement shows a deduction of €500 from my current account.

In other words they took €500 from my current account and put it into the mortgage account. Sounds just like what they used to do before TRS.

I guess (but have no way of proving this based on the info to hand) that the TRS is applied in some way by reducing the interest charge, but it doesn't seem terribly apparent.

Does someone have a worked example of how this works ?

Cheers,

z
 
L

legend99

Guest
..

Are you sure you actually have TRS on yoru mortgage correctly set-up/ I am also with PTSB. When I view my mortgage online I see Jan 23, Payment from my current account. Jan XX, TRS Lodgement 84.

At the end of year statement it had the full amount of TRS paid summed up...
 
Z

zag

Guest
Re: ..

Hmm, I didn't know that I could view it online - I will have to go get the login details and see what is there. I only use the Permo for the mortgage, so I have very little need to use their other facilities. It didn't even cross my mind that I could access it online. Thanks for reminding me.

According to my statement which arrived yesterday I was granted €xyz relief by way of TRS, so I guess I am set up.

I will contact them and get the login details and take it from there.

Do you see something like this on your statement :
JAN 1 opening balance 123,456.78
JAN23 payment -500.00
JAN24 TRS - 123.45
JAN25 interest 327.64

Because all I see on my printed statement is
JAN 1 opening balance 123,456.78
JAN23 payment -500.00
JAN25 interest 327.64

Cheers,

z
 
L

legend99

Guest
..

Thats what i see when I log in. Don't have the 2004 yearly printed statement to hand but I think it just had the TRS as the totaled amount..but now that i am thinking about it I can't be sure!!!

Also, I know that not all mortgages can be viewed online....it depends when you took it out I think. We got ours in Jan 04.

This is a cut and paste from my online viewing...
01/12/2004 Insurance - XX

30/11/2004 Monthly TRSCredit + XX

30/11/2004 Debit Interest - XX

23/11/2004 CT OP/permanent tsb XX

01/11/2004 Insurance - XX

29/10/2004 Debit Interest - XX
 
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