TRS when house is sold

Saruman · 20-11-2017 04:48PM #1

I can't seem to find any information online about what happens to TRS when a house is sold.

For me, I have always received a TRS repayment from my lender on the same day the mortgage came out. It essentially lessened the sting of the full mortgage payment each month.

My house has now been sold November was my first month since 2005 where the mortgage has not come out of my account, since it was paid off the week before.
However, I still got my TRS payment into my bank account which surprised me.

Does anyone know what the story is?

It might have been a mistake by the bank where it didn't get filtered down to that department in time or maybe it's a month behind and that was the last payment.

I know some people might think "woohoo free money" but nothing is free. If I kept shut about it and I wasn't supposed to get it, either the government or the bank would be looking for it to be repaid in the future.

I imagine I'm not perpetually entitled to that payment (until it ends in 2020) even after a house has been sold and mortgage paid off?

exaisle · 20-11-2017 05:03PM

You're only entitled to TRS on interest that you've actually paid.

The repayment you got MAY be for last month's repayment, however, you should give the TRS section in Revenue a call to clarify... use 061 310310 or 061 488000 rather than the 1890 number.

Saruman · 20-11-2017 05:06PM

That's what I would have thought yeah.

TRS when house is sold

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