Budget 2012 Mortgage Interest Relief Q + A

Gareth2011 wrote: »

Never mind .

:rolleyes:
I was replying to dandelion
I didn't make that clear.

Drumpot wrote: »

I was a first time buyer with my wife in 2004, but we subsequently moved to our existing home in 2006 . .

We were first time buyers between 2004 and 2008, but do we get relief as first time buyers or as people who simply bought during the boom ?

Dont suppose we can get the first time buyers relief even for our original mortgage?

We get €75 per month, but I know we could get €300 if we were classed as first time buyers, would make a huge differance . .

when it is implemented you should get the 30% of your ceiling so 30% of 6000
so a max of 150 pm.
give the ole revenue a call and they will have the answer for you straight away, 1890 46 36 26

Yes they are a pain.

I was in with them in January and was assured that the 30% rate would be applied and would make my mortgage nearly €80 cheaper!

So how they come up with this figure is anybodys guess.

Maybe I should wait until next month and see if they amend it or would that be too late?

I worked in a bank once and from what I saw in the mortgage department half of the staff dont understand Fixed Variable or Tracker rate mortgages. They get passed onto management who leave them in a pile on the floor and pass them back to a different staff member who doesnt have a clue and a name is sometimes duplicated so the wrong person is charged the wrong rate. Basically Joe Bloggs is charged Joe Bloggs 2 rate.

It happens because they take on all their staff on contract and when the 9 months are up the staff leave the bank so they couldnt give a monkeys about your mortgage they just up and leave for Australia and do what all Ireland is doing.

Certainly when I worked in the bank there was constantly customers on the blower about their mortgage giving out about changes in their rates, amendments to their deeds or even sometimes lost deeds by the bank resulting in court cases. I better not name the bank in case Im sued but lets just say that the pint in the evening was of more priority than the customers needs.

Also this bank was in Dublin so it wasnt as if it was an old country bank it was in the city centre.

The banks are under fierce pressure so they are trying to squeeze every cent out of us to pay their bills so if you expect €100 a month in tax relief it is more likely that you will get €27.12 with a detailed confusing letter explaining the terms and conditions of the Nth fraction of your principle sum and minus the 18th decimal point and more numbers to make it look like they know what they are doing.

Hi Folks,

Sorry to chime in to say "what about *me*?" but... What about me?

My wife & I bought our house in June 2009. We were married before we took out the mortgage, we're both FTB and there's no strange moving here / there / other homes setups involved. Just a straight-forward 350k mortgage taken out middle of the way through 2009.

I rang our mortgage provider today asking them for their input and they said that, at a glance, it looks like our mortgage has *not* been registered on the Revenue site - so obviously I need to go do that. I've requested documentation from them as the Revenue site asks for details of each year's interest paid, etc. which I don't have and therefore cannot fill out the full registration until the documents arrive in the post.

In the meantime though, can anyone please provide me with a rough idea of what I can expect? Assuming it applies, should I expect repayments from the mortgage provider (as directed by the Revenue) to come into my current account at the end of all this? And roughly what kind of figure should I expect? Or should I expect nothing at all? Are we talking about €20 quid or maybe in the hundreds?

Our repayments are about €1,350 monthly and I'm not certain what our interest rate is at the moment - I find it hard to parse all of the percentages etc. and apply them to my own unique situation.

Sorry for the lack of info, but that's all I have at the moment... Advice / input is greatly appreciated! Thanks very much!

Saw this tread... Thank god!! My interest relief has stayed the same?? and when i asked at the bank back in jan they just keep saying it should change automatically!!! Still again this month it stays at 15%.. First time buyer in 2007 so wats the problem???:mad:

chazbat1 wrote: »

Same here, just rang EBS and they said they have not had any notification from the revenue and when I asked will it be back dated they also said they had no information about that all they did offer was a "it could be April or May" I was told in Jan it would be end of Feb....... yeah nice one EBS... way to make me feel like a valued customer.

Here the trs local number incase you need i ringing them first thing today!! 1890 46 36 26

you need to fill out a trsp and a trs 1 form.
you need to find out the interest charged for the last 5 years
fill out the for correctly and send it to the revenue.

i have recently went sale agreed on a house in Dublin in the last few days. i do not expect for everything to be finalised by the end of the year as the person i am buying from has to give previous tenants 28 days notice before they move out. will i qualify or mortgage interest relief since i have paid the deposit prior to 2013. Any help is greatly appreciated

thanks didnt think i would