TRS January 2013

HB1

Hi
Does anyone know if there is anything going on with TRS at source payments for this month? Usually lodged when mortgage is taken out but no sign. Miortgage payment went out on 2.1.13. Haven't rang bank yet as I am trying to avoid the long wait on the line to speak with someone.
Thanks

Jenniesapetal

Thought it was just me?! Bought our house in sept 2006 so I don't know what's going on?!

HB1

Am going to ring the TRS section of KBC today. Will let you know any info I get

namenotavailablE

In our own case, we received a letter outlining how the amount of our TRS is reducing to €900 pa [a BIG drop :-( ]- maybe you're also seeing the impact of this on your mortgage repayment?
I'd have expected that your lender would have sent a letter to you in advance, however.

seamus

If you bought before 2009 and you're still in receipt of TRS, the amount of TRS shouldn't have changed unless your mortgage has changed.

No issues with getting a TRS payment here (mortgage with ICS), though oddly the bank took my mortgage payment a day later than they're supposed to...

HB1

I just rang the TRS section of the Revenue. KBC is our lender and apparently they have had huge problems applying the TRS credits to their mortgage customers. They said the problem was going to be sorted yesterday so the lady I spoke with was surprised the credit hadn't been applied by today. She said to give customer service a call. Mortgage went out of our account a day late due to new years. Will buzz customer service now.

HB1

Technical error with KBC TRS credits. They will credit accounts next Tues, Jan 8th

Jenniesapetal

Hi

I called revenue myself today and they confirmed that instructions were sent to all banks at the beginning if the month about that they have had reports of delays. They confirmed that we are sill entitled to TRS until 2017.
We're with BOI so I called them and they basically blamed revenue so I don't know here delay is with mine.
Friend is with BOI also and theirs went through automatically on Wednesday. Quite frustrating now!

HB1

It's really annoying isn't it. I rang the revenue first and they said it was a technical error on the part of KBC but I got the impression they were the only bank that hadn't credited the TRS payment. Friends are with BOI and they didn't have this problem. If your bank pays it at source then it's not the revenue's problem, they have nothing to do with it's payment. A friend said that she noticed her mortgage debits were getting lower and no TRS credit was showing in her account. It was just that they were taking off the TRS and only posting 1 figure to her account. So it was being applied just not shown in words and figures. Really don't like the way they chop and change things without people knowing. I hope yours gets sorted soon. We were meant to get our TRS next Tues according to KBC yesterday but it went throught his morning.

Jenniesapetal

Yeah we called Bank of Ireland mortgages and they confirmed that they have nothing to do with it and that its down to revenue, who confirmed that we were still eligible.
Still no sign of it but I swear it's very frustrating.

Jenniesapetal

Turns out that BOI weren't fast enough putting it through and just never bothered to tell me. The bank obviously think people are psychics now too. I called them today to find out what was wrong and they said" oh eh, we're just gonna pay u over 11 months now instead of 12 months" so this month I'm basically down 250, no notice, no apology from the bank, nothing.

We're so lucky to have them aren't we? ( note the sarcasm! Lol)

mathie

Same issue here.
PTSB only giving me 75 euros this month.
So that seems to be the 900 euro a year limit?

We only started out mortgage two years ago so I guess this is PTSBs mistake?

How is the mistake happening at so many banks? Revenues fault?

zt-OctaviaN

PTSB have just reduce mine...
Im first time buyer in Feb 2004 so...

Exemption: Notwithstanding the rates of tax relief mentioned above, for individuals who purchased their first principal private residence on or after 1 January 2004 and on or before 31 December 2008, the rate of tax relief on the interest paid on the loan to purchase that property will, for the tax years 2012 to 2017, be 30%

http://www.revenue.ie/en/tax/it/reliefs/tax-relief-source-mortgage-rates.html


Just got off the phone with PTSB Mortgages and she stated that the figures are based on last years TRS figures and revenue dont send through revised figures until mid January and the remaining 11 months will contain any differences owed.

goes to show the sort of messing about with money that goes on.
i.e. why mid January decisions for changes to TRS should be made well in advance and these should be passed on to lenders so they can send letters out with CORRECT figures on and not this confusing load of dog turd Ive got in the post give me the correct figures damn it!

N

puntosporting

Received a letter today from PTSB stating my trs has changed leaving me out of pocket im a 2004 first time buyer and was under the impression im not due any change until its gone in 2017?

Citizenpain

While your % relief does not chang ;Unfortunately the ceiling that the 30% is applied to does change after your 7 years-- from 10k to 3k

EDIT: Just spotted that you purchased in 2004 sorry --- your MIR should be the same as last year....... more or less

http://www.revenue.ie/en/tax/it/reliefs/tax-relief-source-mortgage-rates.html