Those with Ulster Bank mortgages - read this

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DublinGirl Posts: 1307
My brother said his mortgage interest relief was stopped this month which was over €100 of a difference. Anyway (try not to confuse anyone :-8 ) he only had his loan over 2 years and it was a re-mortgage. When I said I thought that he should still be entitled to mortgage interest relief, he rang the Ulster Bank who confirmed that they had stopped it and that NO he wasn't entitled to it. Still not convinced he rang the Revenue and they confirmed that he WAS still entitled to it. it was only those who transferred mortgages or lenders or those who had original loans for over the 7 years didn't get it. Those who re-mortgaged, had new loans (regardless of it being your 1st, 2nd or 3rd load), or loans under 7 years we still entitled to the interest relief. He then rang the Ulster Bank back to confirm what the Revenue told him, and they still sounded unsure and said they would look into it for him and that anything taken from him would be paid back. Just thought I should warn ye to watch out for this. I know there seems to be a lot of confusion as to who is entitled to it and who isn't. :wv :wv
knitter Posts: 183
As far as I know, TRS has been stopped for any customers who are not on a straightforward first mortgage and are within the first 7 years of that mortgage ie. your typical first time buyer who has never moved house, remortgaged or changed mortgage provider. Revenue are examining all other cases to check if people are in fact entitled to it. Once they have established the facts in each case, it will be granted again....This is due to happen within a couple of months. It was fairly well highlighted in the news at the end of April, with customers being warned to have enough money in their accounts to cover the TRS payment as well as the mortgage...