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Morgage tax relief and paying off early

rexel21 · 2015-07-15 12:29:16

I Have morgage with AIB and they are telling me if I pay off a lump sum of my morgage early i will lose any tax relief benefits I got with the morgage prior to 2012. Surely this iS b/s and they just dont want me to make and early payment? Still have 4 years of tax relief left? I was of understanding that the bank worked…

15-07-2015 12:29pm

#1

rexel21

Registered Users, Registered Users 2 Posts: 27 ✭

Join Date: June 2011

Posts: 18

I Have morgage with AIB and they are telling me if I pay off a lump sum of my morgage early i will lose any tax relief benefits I got with the morgage prior to 2012. Surely this iS b/s and they just dont want me to make and early payment? Still have 4 years of tax relief left?

I was of understanding that the bank worked out any rebate on the interest etc so an early payment should just affect this i.e reduce it and not stop it all together?

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