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Mortgage Increase - Any ideas

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  • 11-01-2011 10:44am
    #1
    Scottie99
    Registered Users Posts: 1,250 ✭✭✭


    I've just checked my online bank statement, and noted the bank took an extra €50 for payment of my mortgage.I'm on a tracker and still have mortgage relief.

    Was there any related Government tax increases that could have increase it?
    Any ideas?


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    #2
    Henry Ford III
    Moderators, Business & Finance Moderators Posts: 17,711 Mod ✭✭✭✭Henry Ford III


    Ask the bank.


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    #3
    Scottie99
    Registered Users Posts: 1,250 ✭✭✭Scottie99


    Was on here at the time......thanks for your help:D


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    #4
    ferga_com
    Closed Accounts Posts: 159 ✭✭ferga_com


    It may have been a revision to your Tax Relief at Source (TRS) for the new tax year. If your TRS went down and your bank deducts your TRS from your mortgage repayment, you'd see it as an increase to the net amount being taken for your mortgage.


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    #5
    LionelNashe
    Registered Users Posts: 1,961 ✭✭✭LionelNashe


    Scottie99 wrote: »
    I've just checked my online bank statement, and noted the bank took an extra €50 for payment of my mortgage.I'm on a tracker and still have mortgage relief.

    Was there any related Government tax increases that could have increase it?
    Any ideas?

    That's interesting - I just read your post and checked my bank statement and I have been charged €564 instead of the usual €547. I am about 6 years into an Ulster Bank tracker mortgage. I definitely didn't get any correspondence from the bank so I would say it must be a TRS thing alright.


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    #6
    John Mason
    Hosted Moderators Posts: 10,661 ✭✭✭✭John Mason


    i got a letter yesterday saying that my mortgage was going up about ten euro due to the changes in the TRS:(

    My mortgage is now at the highest it has ever been in the last 6 years - so much for interest rates coming down


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    #7
    coylemj
    Registered Users Posts: 25,437 ✭✭✭✭coylemj


    The German economy is storming ahead, ECB will be jacking up rates soon. Hang on to your hats.


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    #8
    solerina
    Registered Users Posts: 2,435 ✭✭✭solerina


    My mortgage went up by 30 euro this month, got a letter to say it would due to a decrease in TRS.....
    On the point of interest rates....is it time to fix again ?????


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