Do I qualify for new new 30% rate? Help please

beanok77

Bought my house in December 2008. Paid deposit. And agreed price 2008.

Mortgage did not draw down to March 2009.

Do I qualify? Please say yes.

Should I contact my solicitor/revenue commissioners about this?

Thank you.

tenchi-fan

I don't think the ins and outs of the budget have been released yet.

However, I doubt you'll qualify as you did not actually own the property until 2009. Plus in 2008 there was no legal requirement for you to complete the sale.

I'm also a 2009 buyer, property price fell by at least 30%

beanok77

tenchi-fan wrote: »

I don't think the ins and outs of the budget have been released yet.

However, I doubt you'll qualify as you did not actually own the property until 2009. Plus in 2008 there was no legal requirement for you to complete the sale.

I'm also a 2009 buyer, property price fell by at least 30%

Yeah I'll feel pretty agrieved because I paid a 2008 price. Paid my deposit. The only way I could get out of the contract was to lose our deposit.

At least we will be increased to 25%. Not much of a consolation though. Surely a contract is when money exchanges hands. We didn't sign and mortgage didn't draw down till March 09 but that was the builders fault.

Dodge

You're not getting relief on the house though. You're getting interest relief on your mortgage, so it'll be based on when you start paying that

beanok77

Dodge wrote: »

You're not getting relief on the house though. You're getting interest relief on your mortgage, so it'll be based on when you start paying that

Yeah but surely the contract started when I handed over the deposit. It's not like I had the option of walking away. Well I did but I could have lost the thousands of euro deposit.

Dodge

beanok77 wrote: »

Yeah but surely the contract started when I handed over the deposit. It's not like I had the option of walking away. Well I did but I could have lost the thousands of euro deposit.

I hope I'm wrong for you. But your mortgage was drawn down in 2009, so I think this won't apply to you.

For what its worth I bought in late 2004, about 6 weeks before they changed stamp duty rules which would've saved me thousands. But what can you do?

beanok77

Dodge wrote: »

I hope I'm wrong for you. But your mortgage was drawn down in 2009, so I think this won't apply to you.

For what its worth I bought in late 2004, about 6 weeks before they changed stamp duty rules which would've saved me thousands. But what can you do?

Yeah, fingers crossed. True nothing we can do. I'm getting a 50/50 answer from friends and family, some agree with me and some agree say what you say.

Whatever will be will be. At least we dont have the pay the €100 property

bamboozle

beanok77 wrote: »

Yeah, fingers crossed. True nothing we can do. I'm getting a 50/50 answer from friends and family, some agree with me and some agree say what you say.

Whatever will be will be. At least we dont have the pay the €100 property

why not?

my understanding is MIR increase relates to mortgages drawn down during 2004-2008

T Dog

Hi,

I bought a site & built a house in early 2008 and my mortgage was drawn down that year. Do I qualify as I was a first time buyer. I ask because I wasn't stamp duty exempt because I was building a house and not buying a house

beanok77

bamboozle wrote: »

why not?

my understanding is MIR increase relates to mortgages drawn down during 2004-2008

"A waiver on the €100 household charge will apply to those on mortgage interest supplement and for those living in unfinished housing estates, or so-called ghost estates".

Anybody receiving relief does not have to pay.

http://www.independent.ie/national-news/budget/budget-2012-help-for-negative-equity-homeowners-2954667.html

They could hardly feck me over twice or could they?

brianwalshcork

beanok77 wrote: »

"A waiver on the €100 household charge will apply to those on mortgage interest supplement and for those living in unfinished housing estates, or so-called ghost estates".

Anybody receiving relief does not have to pay.

http://www.independent.ie/national-news/budget/budget-2012-help-for-negative-equity-homeowners-2954667.html

They could hardly feck me over twice or could they?

Of course they can!

Mortgage interest supplement is not mortgage interest relief.

Dodge

Mortgage interest supplement is completely different to Mortgage Interest Tax Relief.

Yes, you'll be paying the €100 property charge

beanok77

brianwalshcork wrote: »

Of course they can!

Mortgage interest supplement is not mortgage interest relief.

No they can't becasue I live in an unfinsihed housing estate. I should have added that in to my previous post and I do admit I did not realise MIS was different to MIR.

Thanks

beanok77

Dodge wrote: »

Mortgage interest supplement is completely different to Mortgage Interest Tax Relief.

Yes, you'll be paying the €100 property charge

Even if I live in an unfinished housing (ghost estate?)

DoesNotCompute

beanok77 wrote: »

Even if I live in an unfinished housing (ghost estate?)

If it's a category 3 or category 4 unfinished estate, then you won't be paying it.

http://www.boards.ie/vbulletin/showthread.php?p=75874263

beanok77

DoesNotCompute wrote: »

If it's a category 3 or category 4 unfinished estate, then you won't be paying it.

http://www.boards.ie/vbulletin/showthread.php?p=75874263

Thanks for that. Think I'm okay on that 1.

beanok77

DoesNotCompute wrote: »

If it's a category 3 or category 4 unfinished estate, then you won't be paying it.

http://www.boards.ie/vbulletin/showthread.php?p=75874263

Do you have an opinion on my first original post?

Dodge

beanok77 wrote: »

Even if I live in an unfinished housing (ghost estate?)

Oh that'll be different alright

From my undestanding of the 'ghosts' estates, it'll be up to each city/county council to identify and list these 9presumably so people can't just claim to be living in one for the sake of it)

DoesNotCompute

beanok77 wrote: »

Do you have an opinion on my first original post?

I'd imagine that since you started drawing down your mortgage in 2009, you'd wouldn't qualify for the 30% rate. However, if you're already signed up to mortgage interest relief, you should be getting whatever the current rate is.

beanok77

DoesNotCompute wrote: »

I'd imagine that since you started drawing down your mortgage in 2009, you'd wouldn't qualify for the 30% rate. However, if you're already signed up to mortgage interest relief, you should be getting whatever the current rate is.

Even though I committed to buy and handed over money in early December 2008?

DoesNotCompute

beanok77 wrote: »

Even though I committed to buy and handed over money in early December 2008?

Yes. Revenue apply the relief to your mortgage loan. The date you signed the contracts/paid the deposit/commited to buy doesn't come into it.