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Mortgage has Increased This Month

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  • 02-04-2009 10:53pm
    #1
    fasterkitten
    Registered Users Posts: 136 ✭✭


    Apologies if this isn't the right forum.

    We have a tracker mortgage and we're on FTB tax relief. We're not due to come off a discount rate or anything like that.

    I noticed that the mortgage has increased by 60EUR this month and I can't think of any reason for this. I'll be ringing up tomorrow but I was just wondering if anyone else with RBS has noticed this and or if they have an explanation?


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    #2
    veryangryman
    Registered Users Posts: 5,572 ✭✭✭veryangryman


    if on tax relief, it could be that your total expected interest to pay is less than the €10,000 per annum that the 20-25% tax reflef is calculated on

    So you would get less relief, and thus in the balance of things have to pay more


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    #3
    Pablo Sanchez
    Closed Accounts Posts: 1,207 ✭✭✭Pablo Sanchez


    As the interest rates go down your relief can go down accordingly too.

    Up until a couple of months ago i was getting the max, ie €166 pm, now its down do €133, as a couple both on the max you would be likly to be paying €60 more in real terms.


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    #4
    Redsoxfan
    Registered Users Posts: 5,324 ✭✭✭Redsoxfan


    Payment could be based on the number of days in the month? Feb < March, so March payment is higher? That's what happened with our mortgage payment as well.


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