Mortgage interest Relief?

Saruman

I got a mortgage in 2005, It was myself and my wife and we were first time buyers. I was under the impression that this was at source so i did nothing and it was simply taken off my payment. However i have heard recently that what should happen is i get money paid directly into my bank account? This has never happened.

Anyone out there confirm?
Will i need to get on my my mortgage company or claim from revenue?

jhegarty

It should be taken off you payment every month... it hasn't been put into bank accounts for years...

Idleater

what jhegarty says is correct - the relief is Tax Relief at Source.

There is a TRS Dept number in revenue that you can ring and if you give them your PPS no. then they will confirm your status over the past 2 years with them.

L.

Saruman

I came across a form on the revenue site so i submit it. Im sure they will let me know when they process if it has been done etc. I cant see anything on my mortgage stuff about it so how would i be expected to know? Its not very transparent. With rates going up so much since i got my mortgage im now checking things out.
Cant believe my monthly repayments have gone up by €120 or more.

The_Conductor

Saruman wrote:

I came across a form on the revenue site so i submit it. Im sure they will let me know when they process if it has been done etc. I cant see anything on my mortgage stuff about it so how would i be expected to know? Its not very transparent. With rates going up so much since i got my mortgage im now checking things out.
Cant believe my monthly repayments have gone up by €120 or more.

Mine are up about 220 already, and I expect them to be up by 300 before long Relief is at source in my case- but its as a seperate payment back into my current account on the same day that the direct debit for the mortgage(s) come out.

markpb

My TRS is paid into my bank account each month the night before my mortgage comes out. My mortgage has gone from 870 to 1105 in the last year