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Mortgage relief question

  • 02-12-2015 10:29am
    #1
    Registered Users, Registered Users 2 Posts: 92 ✭✭


    I recently done an equity release on my home. I also rolled 2 mortgages into 1. I was getting mortgage relief paid into my account up until I made the changes and equity release.

    Same house,Same lender but I change from 60% fixed/40% variable to 100% fixed and done an equity release. I have a different mortgage account number now.

    I drew my mortgage down in 2012 which made me eligible in the first place.

    Is it a case that I am not eligible for the relief anymore?

    Any help appreciated


Comments

  • Registered Users, Registered Users 2 Posts: 92 ✭✭rekcaks


    Anyone got any insight on this?


  • Closed Accounts Posts: 16,115 ✭✭✭✭Nervous Wreck


    Sounds like, rather than 'rolling 2 mortgages into 1,' you actually took out a third mtg to cover the cost of the first 2 (this is standard practice afaik). I'm sure if you read your T&Cs, you'll find it says that, as this is a new mtg, you don't qualify for TRS.


  • Registered Users, Registered Users 2 Posts: 3,395 ✭✭✭phormium


    Contact Revenue, you must apply for the relief on the new mortgage account number, they don't automatically know you have changed it.

    You will only be eligible for relief on the portion of the mortgage used for the house so if any portion of the equity release was for some other purpose relief wouldn't be available on that.


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