Mortgage Interest Relief payments issue

Nameloced

I had set up Mortgage Interest Relief, however, it was never informed to me that I need to have a direct debit set up to recieve the paymentsand that if I dont have a DD, then the TRS just goes straight to my mortgage account.

Cutting a long story short, I was out of work and so went into arrears and had to cancel my DD because of the fees I kept paying to the bank.
I started making payments again, but by debit card over the phone and for the last of the arrears, I am working towards capitalisation.

I just spoke to AIB, and they told me that because I didnt have the DD set up, all the TRS payments were going straight into my mortgage account.
Thats no good to me, given my current plan for capitalisation, I could have really used that money to pay other bills.

Is there any recourse here at all?

thegolfer

Not really a tax issue.

Contact the bank and ask for a transfer Of The monies to your current account, an effective refund.

Obviously this will increase your mortgage though.

kavanada

Also, be aware, TRS is only due on mortgages not in arrears.

Check that out.