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mortgage and trs

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  • 18-06-2014 6:36pm
    #1
    blurch
    Registered Users Posts: 27 ✭


    I got a letter today from my bank, stating that €300. Was paid in trs when it should be €10. They want to take this back divided over the next six months. But they are also asking for another €240. Because I have used up my annual trs allowance. Is this right they over pay by €290 and I end up paying them back €530.


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    #2
    rameire
    Registered Users Posts: 4,126 ✭✭✭rameire


    doesnt make sense.
    do you have the exact wording?

    🌞 3.8kwp, 🌞 Split 2.28S, 1.52E. 🌞 Clonee, Dub.🌞



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    #3
    blurch
    Registered Users Posts: 27 ✭blurch


    Sorry for the delay.

    The letter states that an error was identified with the application of the TRS on the mortgage
    and impacts me two ways


    Impact 1- TRS paid by the bank in march was €300 more than the usual entitlement of €10 resulting in the mortage been underpaid. To correct this they wish to add €48 a month till Dec.

    Impact 2- they Also regret that since I was provided with too much TRS I have exceeded my yearly TRS entitlement and I now have to repay them a further €240.00 either directly in full or it can be added over the life of the mortgage.

    Can someone explain in plain english for me. I can see back in my bank account that the amount taken fr the mortgage was lower than normal so that is fine. However I cant see the extra €240.


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    #4
    rameire
    Registered Users Posts: 4,126 ✭✭✭rameire


    I think I have it.
    They gave you a year's trs in March.
    They also gave you trs every month from Jan to June.
    So they need to give half a years trs back to revenue as you already received this for Jan to June.
    This originally would have reduced your direct debit in march. So this shortfall needs to be recouped. This is impact 2.
    They also gave you the trs for July to Dec in March. This has stayed on your account. Thus meaning you will not get trs from Jul to Dec. Thus impact 1. They have to up the direct debit to cover the due amount that would normally be covered by the trs.

    🌞 3.8kwp, 🌞 Split 2.28S, 1.52E. 🌞 Clonee, Dub.🌞



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