# TRS not changed to 30%



## becky_1979

Got my notice of TRS credit letter from Ulster Bank yesterday, and to my dismay it hasn't been changed to the new 30% rate (bought my house in 2008) 

Has anyone else noticed that their rate hasn't been adjusted yet?


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## djh

Same here. 

If it's anything like the last time the government changed the TRS rates they may take up to 6 months to get their act together and apply the correct rate.


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## cmg2011

I rang the revenue last dec and she said it could take until feb or march but you will get it back. i got my letter from halifax and my trs has dropped by €75


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## Oscaresque

Mine is usually around €90 a month (bought at the end of 2005) and today it was €75. 

Is this likely to be a mistake that will get rectified or have I misunderstood how it works?


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## selfbuilder

I got a letter in December saying my relief was going up to €125 per month. I built in 2004. The €125 equates to relief at 25%. I rang the Revenue and they said the computer is not set up for 30% and this would take a few months and that I would be getting another letter with an increased relief of 30% along with whatever relief was owed while on 25% rate. My relief whenever its sorted will be €150 per month alot better than the current €75 that I was getting.


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## rustbucket

I bought at the end of 2008 but have received no letter from the bank or Revenue indicating a rate change


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## rameire

contact revenue with your pps number on 1890 46 36 26


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## cork_south

This might help
thejournal.ie/mortgage-holders-told-to-ensure-new-interest-relief-is-applied-320770-Jan2012/


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## DerKaiser

Oscaresque said:


> Mine is usually around €90 a month (bought at the end of 2005) and today it was €75.
> 
> Is this likely to be a mistake that will get rectified or have I misunderstood how it works?




€90 per month in 2011 suggests that your annual interest bill was €5,400 and you were getting 20% relief (the old rate) on the entire amount (Total interest is capped at €10k in years 1 to 7).

If your annual interest bill is still €5,400 in 2012 , the max on which TRS is paid is €3,000 per annum as you are now in year 8 of your mortgage.  You'll get 30% of the €3,000 or €900 p.a. which equals €75pm.


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## Oscaresque

Thanks. I didn't realise the capped amount changed in year 8.

edited to add - I just checked revenue.ie and as I am married and were both first time buyers on this property the cap should be e6000 which may mean it should be higher than 75pm.

http://www.revenue.ie/en/tax/it/reliefs/tax-relief-source-mortgage-rates.html


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## Pyrite-home

Just rang the bank and it seems the 30 % relief hasnt come into affect yet. They are expecting it sometime this year but they dont know when ?. Wierd.


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## DerKaiser

selfbuilder said:


> I got a letter in December saying my relief was going up to €125 per month. I built in 2004. The €125 equates to relief at 25%. I rang the Revenue and they said the computer is not set up for 30% and this would take a few months and that I would be getting another letter with an increased relief of 30% along with whatever relief was owed while on 25% rate. My relief whenever its sorted will be €150 per month alot better than the current €75 that I was getting.


 
Thanks selfbuilder - Just got mine for January and it appears to be at 25% for now as well


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## Mrmr

I got this response from Revenue

The  December 2012 Budget stated that from 1st January 2012 the rate of  mortgage  interest relief for first time buyers who took out heir first mortgage  on their home between the years 2004 to 2008 [inclusive] and are  residing in that home increased to 30% until 2017.  
As  Revenue TRS systems need to be updated to reflect the change the 30% TRS  rate will not apply  currently, any missed mortgage interest relief at the 30% rate will be  backdated when the update is implemented.


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## spreadsheet

Mrmr said:


> any missed mortgage interest relief at the 30% rate will be  backdated when the update is implemented.
> [/FONT][/COLOR]



Hope we get interest on that. At Revenue rates, of course


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## djh

spreadsheet said:


> Hope we get interest on that. At Revenue rates, of course


 
I called up Revenue about it after the last change and my bank taking 4 months to apply the changed rate. Was told that it's up to the bank and as long as the fill amount of TRS is credited in the calander year then all is well as far as Revenue is concerned.


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## mrsg09

A quick question, we took out our first mortgage in 2005, then sold and bought another house in 2008. Will we get the increased rate? Thank you in advance


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## ClubMan

Not sure but don't think so since you are a second time buyer now:

http://www.citizensinformation.ie/e...e/buying_a_home/mortgage_interest_relief.html



> A special rate of 30% for the tax years 2012 to 2017 is introduced for     first-time buyers who took out mortgages in the years 2004 to 2008


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## Phil_space

Following a query last week re. new TRS rate I received this response from my lender:

"With regard to the increased TRS rate, this systems change is currently in the development stage.  Revenue have published a specification file detailing the changes required to the TRS systems, however, testing must be completed by both Revenue and the bank in respect of these changes before they can be implemented.  It is expected that customers will start receiving TRS based on the new rates with effect from March/April 2012.  This is the case with all of the Banks.  Qualifying customers will still receive their increased TRS entitlement for the whole year of 2012, however, it will be spread across the period from the date of the systems change to 31/12/2012."


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## ClubMan

A three month project to implement the following changes to the system?

http://www.citizensinformation.ie/e...e/buying_a_home/mortgage_interest_relief.html


> *Changes in Budget 2012*
> 
> Budget 2012, which was announced in December 2011, changes the rules on mortgage interest relief as follows:
> 
> 
> First-time buyers in 2012 will get mortgage interest relief at a rate of     25% for the first 2 years, reducing after that
> Non-first-time buyers in 2012 will get mortgage interest relief at a rate     of 15% from 2012 until 2017
> A special rate of 30% for the tax years 2012 to 2017 is introduced for     first-time buyers who took out mortgages in the years 2004 to 2008


Nice work if you can get it!


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## uptomyeyesin

FYI KBC have now made the TRS adjustment, I received Jan & Feb amount for Feb. Its not a lot (11€ PM) but hey I will take it thank you very much


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## rameire

UB still not updated, I will be getting the same as Jan. which is 25% instead of 30%.


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## becky_1979

With Ulster Bank & mine still hasn't changed either 
I bet if we were all having a rate decrease it would have been sorted on the 1st of January!


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## rameire

The thing is to change the trs rates, it is not that simple, they have to do testing and update their mortgage systems to get the new trs rates to work, and in the end we will still get the same amount if trs over the year no matter if they changed the systems on jan 1st or dec 1st


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## AndyDub

ICS not updated either.


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## cgc5483

rameire said:


> The thing is to change the trs rates, it is not that simple, they have to do testing and update their mortgage systems to get the new trs rates to work, and in the end we will still get the same amount if trs over the year no matter if they changed the systems on jan 1st or dec 1st




Seriously it can't be that hard. It's a bit of a joke if thats the excuse.  I'm with AIB and they have managed to put my TRS back up to 25%.  How could it be that hard to edit a couple of lines to change the 25% to 30%. It's not some super hard calculation!


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## sunshimmer09

uptomyeyesin-good news for you I think, I just called KBC and they advised we are still on 25% the increase this month we got was based on a 5 week month- 30% won't hit March or April and will be backdated


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## djh

Last time they changed the TRS rate UB did not apply it until April/May I think. Clamed it was "hard coded" into their systems and would take ages to change. 
No backdating that time, just increased the amount of the credit for the remaining few months.


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## rameire

cgc5483 said:


> Seriously it can't be that hard. It's a bit of a joke if thats the excuse. I'm with AIB and they have managed to put my TRS back up to 25%. How could it be that hard to edit a couple of lines to change the 25% to 30%. It's not some super hard calculation!


 
yes it can be
when they decided to change the rates and bands a couple of years ago, all the banks had a 6 month lead in time to get their systems updated to accomodate all the different fields.
the banks have to make sure all is working on all of their mortgage platforms before they can proceed.
otherwise it could mean under or over payments

most if not all banks are giving their customers 25% as this rate is already built in to their systems.

and the way the financial systems are these days, everything is double and triple checked and then checked by independant people and then they test it and then put it into wider circulation.
it takes time.


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## ArtVandelay

Has there been any confirmation from the government about people that bought in late 2008? We bought in December 2008 and had a three month moratorium so our first payment is in 2009. 

Any idea if the qualifying date is based on the purchase date, draw-down date, or the first repayment date? All info that I have seen indicates purchase date, which is surely the purpose of this TRS, to help people who bought at 2008 prices and rates.


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## Ms2011

uptomyeyesin said:


> FYI KBC have now made the TRS adjustment, I received Jan & Feb amount for Feb. Its not a lot (11€ PM) but hey I will take it thank you very much


 


sunshimmer09 said:


> uptomyeyesin-good news for you I think, I just called KBC and they advised we are still on 25% the increase this month we got was based on a 5 week month- 30% won't hit March or April and will be backdated


 
We bought in 2008, made our first repayment in December 2008, our mortgage is with KBC, haven't had any communication from them with respect to TRS but our TRS has gone down each month since December.  Hopefully it will be sorted soon.


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## Jetblue

Has anybody else NOT received the increased TRS yet? 
I have just seen my May payment for my Ulster Bank mortgage and there is no change to it.


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## ArtVandelay

Jetblue said:


> Has anybody else NOT received the increased TRS yet?
> I have just seen my May payment for my Ulster Bank mortgage and there is no change to it.



We haven't seen ours yet. We spoke with revenue and they estimated that it might not be august till we see ours, with the backdated amounts being spread over the remaining months of the year. We're with ICS but we are not a straightforward case, having bought and moved in in 2008 but paid our first mortgage payment in 2009. There was some confusion in revenue about whether or not we qualified for it.


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## Paulk

My TRS is substantially higher this month. I'm assuming this means that the 30% increase has been applied and backdated. 

Did anybody else with KBC notice the same?


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## peteb

Jetblue said:


> Has anybody else NOT received the increased TRS yet?
> I have just seen my May payment for my Ulster Bank mortgage and there is no change to it.


 
Yes.  I haven't. And I bought in 2004 so it has stopped completely for me until they make the update to the system.  And its not looking like being this side of July!


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## kaza

I am with PTSB, I rang them today to ask when the new rate would apply. They said that revenue are holding things up & not given them the new details for their customers yet. She said she had no idea when they would get the details from revenue, but once they did it would take about a week to update their system. Seems strange that other banks have received the details from revenue??


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## cgc5483

Jetblue said:


> Has anybody else NOT received the increased TRS yet?
> I have just seen my May payment for my Ulster Bank mortgage and there is no change to it.



We're with AIB and still on the old rate TRS this month.  It's a complete joke to suggest it takes this long.


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## allie12

I am just off the phone with Revenue, PTSB have not updated their systems to handle the change to 30% yet (Lovely girl who is very helpful in Revenue). She also flagged that sometimes PTSB instead of calculating the refund due and spreading it over the remaining months of the year (which would free up spare cash for the last 6 month) they apply it as a lump sum and send you out a statement at year end.

I am on hold with PTSB who still cannot confim when this will be applied, they tried once again to blame Revenue (I shut them up quick enough) and I have asked them to confirm that they will not apply the monies owed as a lump sum. The reason I am on hold is because I have asked them to confrim it in writing to me!

PTSB are going to call me back to confirm whether they can actually send out a letter confirming they will not take the monies owed as a lump sum (seriously), but amyone with PTSB might not be a bad idea to keep ringing them asking when the TRS will be applied as they don't seem in any hurry to apply it!!


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## Don_08

This is very annoying. We will actually be giving up our TRS at the end of June as will be emigrating and renting out the house. All this talk of backdating - will that even apply to us?


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## kaza

allie12 I was very suspicious of PTSB yesterday on the phone when they blamed the revenue! I had a feeling they were telling white lies (as usual with them over the phone). She actually said to me that once they get the details from the revenue it will only take a week to update their systems!!!! What a load of .....


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## allie12

Kaza, call them back- tell them you are onto revenue, ask that the owed monies not be applied as a lump sum and get them to confirm in writing. If enough people keep at them they may just buck up!!


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## ngwrbc

Anyone know if Bank of Ireland have updated their systems yet? I have not heard anything from them and today TRS is the same as it was in January so looks unlikely they have, anyone heard from BOI?


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## STEINER

allie12 said:


> I am just off the phone with Revenue, PTSB have not updated their systems to handle the change to 30% yet (Lovely girl who is very helpful in Revenue). She also flagged that sometimes PTSB instead of calculating the refund due and spreading it over the remaining months of the year (which would free up spare cash for the last 6 month) they apply it as a lump sum and send you out a statement at year end.
> 
> I am on hold with PTSB who still cannot confim when this will be applied, they tried once again to blame Revenue (I shut them up quick enough) and I have asked them to confirm that they will not apply the monies owed as a lump sum. The reason I am on hold is because I have asked them to confrim it in writing to me!
> 
> PTSB are going to call me back to confirm whether they can actually send out a letter confirming they will not take the monies owed as a lump sum (seriously), but amyone with PTSB might not be a bad idea to keep ringing them asking when the TRS will be applied as they don't seem in any hurry to apply it!!



thats good to know, am mortgaged with PTSB myself.  It is a very slow process, updating the TRS.


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## alexandra123

I rang revenue in January and they confirmed that they had already given PTSB the details ! It looks like PTSB is just not in any sort of hurry to update their books. This is now May....so they really don't have any excuse !


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## peteb

Don_08 said:


> This is very annoying. We will actually be giving up our TRS at the end of June as will be emigrating and renting out the house. All this talk of backdating - will that even apply to us?


 
did you buy between 2004 - 2008? If not, then no.   If yes, then for 5 months you would be entitled to and when you rent it out you are no longer entitled.


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## Don_08

Bought in 2005.


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## Whatstracker

This is a strange one, i'm with PTSB and i'm pretty sure that my relief increased last January. I didnt get any confirmation but it was a messy period with a couple of interest rate drops after the infamous 6.05% SVR i was on. Unfortunatley i'm in year 7 so im going to see a drop next year.

Mortagage is 270K
Term 360 months.
Remaining 286 months.
Interest rate 5.19%
Current TRS amount is €260.12 (married couple)
I tried working it out on a few on line calculators and it seems close enough.
Next year i'm expecting TRS to drop to €150 right?


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## rameire

allie12 said:


> Kaza, call them back- tell them you are onto revenue, ask that the owed monies not be applied as a lump sum and get them to confirm in writing. If enough people keep at them they may just buck up!!



just to let you know if the trs is paid to your mortgage as a backdated lump sum and not as the monthly regular, you are in fact entitled to request this lump sum to be refunded to you.

usually the only way it would be paid as a lump sum is if it was for previous years.
so if it is paid this year it should come off the monthly payment.
if it is paid next year it will be a lump sum which can be refunded to you.


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## Jkrnax

Re query from whatstracker, 

We have a mortgage with PTSB and are 1 year ahead of you, i.e. in year 8. However PTSB have been giving us 25% (€125) rather than 30% (€150) interest relief for the past four months. They've told me over the phone that once it's adjusted to 30%, I can give them a call and they will refund the overpayment, which is €100 so far, back to our current account.


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## Working mam

I spoke with revenue yesterday who stated that most banks had implemented the change but ptsb had not. I rang ptsb today as my mortgage is with them and they said they might have an update in June and the backdated payment will be paid over the remaining months of the year. Revenue said that ptsb would be paying it against my principal, conflicting answers!


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## allie12

I got a voicemail (saved it) from PTSB confirming that the TRS will be spread out over the last part of the year and will not be paid against the principle. They cannot hoowever confirm this in writing!


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## Working mam

Terrible it's taking so long to apply it when the other banks have done it. No reasonable explanation for the delay.


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## alexandra123

I spoke to PTSB today and the guy on the phone said that the increase will happen in June. He confirmed that for my mortgage in June - that the TRS will be at 30%


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## djh

Just called Ulster Bank, they still have not implimented the 30% and was told that they have no definite time frame, they are having "system issues". 
Said it should be before the end of the year...


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## Don_08

Called revenue today. AIB will have 30% payment from June.


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## kaza

alexandra123 said:


> I spoke to PTSB today and the guy on the phone said that the increase will happen in June. He confirmed that for my mortgage in June - that the TRS will be at 30%



Great! I should see a few decreases in my June payment then, TRS to 30%, plus back dated TRS, plus 0.5% decrease.


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## PaddyW

Paulk said:


> My TRS is substantially higher this month. I'm assuming this means that the 30% increase has been applied and backdated.
> 
> Did anybody else with KBC notice the same?



Paul, mine jumped from 40 euro or so up to 71. I think they may have paid whatever was owed for the year so far on top as well, but not definite on that


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## DerKaiser

Update on this in respect of my AIB mortgage.

As per Allie12 in post #50 it appears as though the intention is to pay a level amount from May onwards so that the correct total for the year will be paid by the end of the year.

In my case I am owed approx €120 in underpayments for the first 4 months (was being paid about €150pm based on 25% rather than €180pm based on 30%)

I'm now getting €195pm from May (€180pm correct amount, plus an extra €15pm until the end of the year to cover the €120 in underpayments to date).

I could get annoyed that I'm not getting back the underpayments immediately with interest, but I've worked out that the difference is costing me about 60cent in interest, so it's probably not worth the effort!!


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## allie12

Called and spoke to PTSB again today (seriously stalking them to get clarification on things!!), and the TRS will be applied from our next payment, also the % shown online for the interest rate will take 16 days to update but the reduced rate of 4.69% is applied from today. All in all itlooks like we will be getting over €400 reduction PM till the end of the year!!


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## Stronge

I am on a Tracker and was getting 136.91  for the past few months this month I got 177.99 does this amount include some of the money which is due since January?  I am not sure how to calculate how much I am entitled to.  2012 is year seven for me.  How do you know how much interest you will be paying for the coming year, or perhaps that is not how it is calculated?


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## DerKaiser

Stronge said:


> I am on a Tracker and was getting 136.91  for the past few months this month I got 177.99 does this amount include some of the money which is due since January?  I am not sure how to calculate how much I am entitled to.  2012 is year seven for me.  How do you know how much interest you will be paying for the coming year, or perhaps that is not how it is calculated?



Looks like you're in the exact same boat as me.

Say you were on a tracker of ECB + 0.75% (current interest rate of 1.75%) and had about €375k outstanding on the mortgage, the amount of interest you are expected to pay in 2012 is quite close to €375k * 1.75%. This is about €6.5k. 

Because you are in the 7th year you are entitled to 30% of this, roughly €2k for the year or €165 per month.

The bank has only been paying 25% (as it struggles to get its systems to use 30% ) so you will have been only receiving €135pm since January. 

What the bank is now doing is immediately upping your relief to the correct amount of €165pm and spreading the underpayments since January over the remaining months of 2012 by adding approximately €15pm onto your relief, taking you to approximately €180pm.


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## Mucker Man

I'm with Ulster bank and I rang Revenue this morning and they said it will be in the second half of the year before the increase is implemented, as Revenue are having 'systems issues'.

Makes Noonan's big annoucement on budget day about helping hard pressed mortgage holders look very silly.


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## mandelbrot

Mucker Man said:


> I'm with Ulster bank and I rang Revenue this morning and they said it will be in the second half of the year before the increase is implemented, as Revenue are having 'systems issues'.
> 
> Makes Noonan's big annoucement on budget day about helping hard pressed mortgage holders look very silly.


 


How so, everyone is going to get their relief aren't they? Do you expect that he would / should have been able to foresee whatever systems issues Revenue have encountered? (My undestanding is that there's some sort of problems with the computer programming.)

And if he had known about them, would you rather if he'd decided not to bring in the extra relief...?

No pleasing some people...


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## djh

Ulsterbank gave the same resoning for the delay in Implementing the changes when TRS was increased a couple of years ago. 
At least then they send out letters that time to explain the delay and what would happen. 

It does seem odd that no one in Ulsterbank can remember how to overcome similar problems just a couple of years later. 

</rant>


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## Leaky1

Mucker Man said:


> I'm with Ulster bank and I rang Revenue this morning and they said it will be in the second half of the year before the increase is implemented, as Revenue are having 'systems issues'.


 
How are Revenue having 'systems issues' if I have somehow managed to get my extra TRS from April? I'm with the EBS and they received the increased figures from Revenue already - why are Ulster Bank different?


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## mandelbrot

Leaky1 said:


> How are Revenue having 'systems issues' if I have somehow managed to get my extra TRS from April? I'm with the EBS and they received the increased figures from Revenue already - why are Ulster Bank different?


 
I'd imagine there's some kind of software to software interface, given that you're talking about tens (or even hundreds), of thousands of individuals' information. So they may be able to get the Revenue system to talk to the EBS system more easily than they can with others..? (Does that even make any sense?!)


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## Leaky1

Mandelbrot, yes it kinda makes sense.
Just the answers from the banks just sound like lazy replies of "it's not our fault, blame the tax office".

I guess I am a lucky one then that the EBS and Revenue systems are speaking the same 'language' as such.


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## Stronge

Der Kaiser, 
Thanks for the info., I had forgotten how to do the calculations!!


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## Mucker Man

@Mandelbrot

I am only giving details of my experience with the Revenue. The minister offered extra relief for purchasers from '04 to '08 in his budget in Dec 11.
Now HIS department haven't gotten their act together to pass this benifit on to hard pressed taxpayers.


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## allie12

Mucker Man said:


> @Mandelbrot
> 
> I am only giving details of my experience with the Revenue. The minister offered extra relief for purchasers from '04 to '08 in his budget in Dec 11.
> Now HIS department haven't gotten their act together to pass this benifit on to hard pressed taxpayers.


 
I have to disagree with this, I am with PTSB and like many others was told by my bank that it was Revenue's fault- on further investigation it turns out that it the individual banks who are at fault- and now in June eventually my TRS has been amended and backdated (Savind me over €280 p/m for the rest of the year). 
After speaking with Revenue I called PTSB, and when they again gave me the "line" I quickly corrected them and they then admitted it was their systems!


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## Mucker Man

I didn't contact my bank, it was Revenue who said that they have the issue.


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## mandelbrot

Mucker Man said:


> @Mandelbrot
> 
> I am only giving details of my experience with the Revenue. The minister offered extra relief for purchasers from '04 to '08 in his budget in Dec 11.
> Now HIS department haven't gotten their act together to pass this benifit on to hard pressed taxpayers.



Are you going to get your relief, or not?! The answer is yes you are, and it will be backdated. It'll take as long as it takes to make the Revenue's and individual banks' systems communicate properly. And why is it taking so long - you may not have heard but theres been a near complete recruitment embargo, and policy of non replacement of staff, for several years now... Revenue did try to recruit people to work in their ICT division at the end of last year, but the payscale wasn't sufficiently attractive for them to be able to fill all the positions. (Seems not all public sector staff are overpaid then.)


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## alexandra123

allie12 has yours been amended already and can you see it on 24hour banking as mine has not changed ? Although the % value has changed the repayment amount has not. 

I have neither received the 30% or the new interest rate ! 

PTSB told me it wont be until June for the 30% rate change - but that was only a preliminary date , that they were not fully sure when it will be implemented !

I don't understand how changing the value of a number can cause 5 months worth of effort to fix ! This is a software package -I doubt all these values are hard coded into the system,  ideally this should be a simple change !


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## rameire

its not that simple,
they cant just change the number.
the banks all have many mortgage systems that they use.
and each system could work a different way to each other.
then when they actually have made the change on their testing mortgage systems they have to test that the numbers and calculations work the way they are expected to work, this would be tested over a few cycles ( months ) to make sure it runs well,
once the testing is done then they have to implement the changes to their live mortgage systems.

if only it were so easy, like people expect it to be.


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## Jetblue

Ulster Bank admitted to me that it was "their" system that was the problem! not revenues and that it would be October or November before it was sorted out.

I agrree with Djh that UB should issue a press release explaining the situation (They can no longer afford to send letters to all of us)

Could we/should we start a campaign for a puplic explaination from our banks on this issue?


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## allie12

Alexandra, the new figure of both the TRS and interest cut is available on my PTSB online open 24 account. My mortgage is due on the 4th  of every month so it will take affect from my June repayment. What date does your mortgagego out? I also have their head wrecked calling every week asking when I will see the change so maybe that worked!! haha


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## alexandra123

Mine is due out on the 22nd....looks like another call is in order. It does not make sense that they can update one person and not another ....unless you have a different mortgage type than me ... I am on a SVR


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## allie12

You payment is due out on 22nd May, so therefore you will not see the changes until after the May payment. It will be reflected in your June repayment!


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## Whatstracker

My next payment is due on 27th, interest rate has been updated on line but no change to payment due or TRS.


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## Luckycharm

rameire said:


> its not that simple,
> they cant just change the number.
> the banks all have many mortgage systems that they use.
> and each system could work a different way to each other.
> then when they actually have made the change on their testing mortgage systems they have to test that the numbers and calculations work the way they are expected to work, this would be tested over a few cycles ( months ) to make sure it runs well,
> once the testing is done then they have to implement the changes to their live mortgage systems.
> 
> if only it were so easy, like people expect it to be.


 
How is the system different for changing say ECB rate changes or other rate changes?


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## rameire

im talking about the trs, as in what this thread is about.


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## DerKaiser

rameire said:


> its not that simple,
> they cant just change the number.........
> if only it were so easy, like people expect it to be.



It sounds like bad system set up if you ask me.  

You set up a key based on:
Single or joint
FTB or Non FTB (can be based on actually be start year with some manual overrides)
Start Year

This will give you the rate and the max relief available which can be applied to the annualised interest (which will already be calculated elsewhere).

The problem is that IT departments in every large organisation are unfit for purpose. Going back 10 or 12 years something this would have been coded, tested and implemented by a small team in less than a month.  The issue now is that IT areas have been flooded by people with no discernible skills.  

It is one area of evolution in which we have regressed over the last decade.


----------



## rameire

you must also remember that the mortgage systems in use are donkey years old.
and they are owned by outside companies, 
which as you say are have moved on so have very few people who know the systems.


----------



## DerKaiser

rameire said:


> you must also remember that the mortgage systems in use are donkey years old.
> and they are owned by outside companies,
> which as you say are have moved on so have very few people who know the systems.



I've no doubt.  

They're probably written in qbasic with 40 people working on the project for 6 months (including one qbasic programmer on a one week contract!)


----------



## ryaner

The bigger issue with the bank systems is that all changes are validated. Think back to the first vat changes a and how long that took on some government systems to see the scale of the changes. 

Time to change the variable: 2 minutes
Time to re-compile everything: X hours
Time to run validation testing: X weeks (yes weeks)

And those timescales are assuming no bugs show up.

As for the bank systems, it is in their interest to get it right, and beyond a little bit of bad pr, no downside to delaying the process to ensure they get it right. Getting it wrong would have pretty large consquences.


----------



## billb

Whatstracker said:


> My next payment is due on 27th, interest rate has been updated on line but no change to payment due or TRS.



I just spoke with PTSB who reckon that none of their mortgage accounts have had the TRS changed to 30% yet but that people with a variable rate mortgage will have seen changes to both tax relief and payment simply due to the rate reduction.

Who knows what the real story is but I was told we need to wait another few weeks yet for the budget changes to be applied.

My mortgage payment is debited on the 5th of each month so I guess if my June payment was going to be reduced then I would have been notified by now


----------



## peteb

yeah the problem with the them delaying these things is that for those  of us that passed year 7, all TRS has stopped until such time as they sort out the new budgetary changes!  The least UB could have done would have been to leave the 25% there until such time as they could make the correction.


----------



## corklad

Hi folks,

I got a letter from PTSB today saying the TRS has changed obviously due to the budget changes (now 30% TRS in my case). I rang PTSB and asked what was happening with the backdated TRS since the budget. As usual the guy played dumb and said that's a thing for the revenue to tell me. I'm going to ring them now and no doubt, as people have said above, the revenue will tell me it's that bank's issue. 

My question is - from the discussion above - is if they are giving me the backdated money is it better to tell them to take it off the principal or just let them spread it over the rest of the TRS for the year? The only thing I can think of is if it comes off the principal - no matter how small it is - it will decrease the overall interest over the loan so that's the way to go. I'm just curious why some posters were adamant that the bank don't spread it out over the year and get it as a lump sum.


----------



## corklad

corklad said:


> Hi folks,
> 
> I got a letter from PTSB today saying the TRS has changed obviously due to the budget changes (now 30% TRS in my case). I rang PTSB and asked what was happening with the backdated TRS since the budget. As usual the guy played dumb and said that's a thing for the revenue to tell me. I'm going to ring them now and no doubt, as people have said above, the revenue will tell me it's that bank's issue.
> 
> My question is - from the discussion above - is if they are giving me the backdated money is it better to tell them to take it off the principal or just let them spread it over the rest of the TRS for the year? The only thing I can think of is if it comes off the principal - no matter how small it is - it will decrease the overall interest over the loan so that's the way to go. I'm just curious why some posters were adamant that the bank don't spread it out over the year and get it as a lump sum.



*** UPDATE ***

A few conflicting stories after a few phone calls...

First of all I rang the revenue TRS helpline and the really helpful lady knew what I was talking about right away. She said that PTSB are unusual and they actually keep the backdated TRS in a "sub-account" to the mortgage but it doesn't come off the mortgage. She game me the PTSB number and told me to ring them and they would pay me out the money on bulk. 

So then I rang back PTSB. This time got a nice lady who this time was on the ball - last time the guy hadn't a clue (why can't they all know the same things and save me being on hold twice!! ). I told her the story and she explained to me that the backdated TRS is being spread over the rest of the months of the year. I asked if I was able to get that as a lump sum but she said the bank doesn't do that.


----------



## AndyDub

Has anyone with ICS received the new rate yet?


----------



## karibou57

With the difficulties Ulster Bank is having with their systems, I am wondering if we're going to get that relief this year?

Also, does anyone knows how much in advance a bank should contact you before a fixed rate period ends?


----------



## Whatstracker

Into July now and still no change from PTSB.


----------



## allie12

Whatstracker, I got mine applied in June payment (mortgage does out the 7th) so am in my second month!! 

I would call & call them!! There is no reason why everyones is not updated!!


----------



## Whatstracker

allie12 said:


> Whatstracker, I got mine applied in June payment (mortgage does out the 7th) so am in my second month!!
> 
> I would call & call them!! There is no reason why everyones is not updated!!


 
Allie did you get any written notification?
All i see is a reduction in line with the reduced interest rate.


----------



## allie12

I don't think we got anything in writing, I just kept calling them every other day asking when the amended TRS was due and how much would it be. It changed online about 16 days before the payment was due out.


----------



## kerrymum

*TRS not changed t 30%*

Hi All

I got a letter from PTSB yesterday regarding my TSR, apparently the 25% was applied in Jan but in fact our mortgage went up by €10 in Feb. The difference now this month was €51.00 and apparently this included all the back pay.. this seems ridiculous to me, they are not at all helpful in PTSB. 
Anyone else get experience the same? What should we be entitled to mortgage taken out in 2007, €315K - on a tracker rate since 2010

Very frustrated and unhappy PTSB customer


----------



## GL01

We got our first increased payment from ICS at the end of May. What I'm not clear on is how they're dealing with what is owing for January to April, will we get an extra payment or is it spread over the payments through the rest of the year. How are other banks dealing with this?
I'll put a call into ICS and report back.


----------



## random2011

Got my letter today from PTSB. Mortgage reduced by 110 to 1070.

When i first read the letter i thought the reduction was 10 euros based on my mortgage monthly repayment being 1080 but when i checked my statements i realised my mortgage was actually 1180 before the reduction.

Have to say i am happy with that reduction. In the 6 years we have had our mortgage this is the cheapest repayment to date. Before end of 2011 it was 1430 at it's highest.


----------



## becky_1979

karibou57 said:


> With the difficulties Ulster Bank is having with their systems, I am wondering if we're going to get that relief this year?



I'm wondering the same, still no 30% from Ulster bank for me, and they haven't even taken my mortgage payment out this month yet, probably because of the 'technical issues'


----------



## karibou57

becky_1979 said:


> I'm wondering the same, still no 30% from Ulster bank for me, and they haven't even taken my mortgage payment out this month yet, probably because of the 'technical issues'


 Really?!?! mine is due tomorrow for this month.... Hopefully they'll get the 30%  passed while they're fixing stuff!! Also, would you know when Ulster Bank is supposed to notify you when your deal is comin to it's end? (In my case my fixed rate period is ending in september)


----------



## djh

My mortgage with Ulster is due to leave my current a/c (with another bank) tomorrow. Will let ye know if it goes on time or at all (or twice as has been mentioned somewhere else).

Karibou57, might be worth a read on this thread about fixed rate mortgages ending with Ulster:
http://www.askaboutmoney.com/showthread.php?t=163761


----------



## Luckycharm

My UB Mortgage hasn't come out yet either my account is with UB - has anyone UB mortgage come out whose main bank account is not with UB?

As for TRS think we will be waiting where is Rameire when we need him.


----------



## karibou57

Luckycharm said:


> My UB Mortgage hasn't come out yet either my account is with UB - has anyone UB mortgage come out whose main bank account is not with UB?


 

Confirmed, my UB mortgage was supposed to come out today but has not...


----------



## AndyDub

GL01 said:


> We got our first increased payment from ICS at the end of May. What I'm not clear on is how they're dealing with what is owing for January to April, will we get an extra payment or is it spread over the payments through the rest of the year. How are other banks dealing with this?
> I'll put a call into ICS and report back.



Did you get any info from ICS?


----------



## becky_1979

karibou57 said:


> Really?!?! mine is due tomorrow for this month.... Hopefully they'll get the 30%  passed while they're fixing stuff!! Also, would you know when Ulster Bank is supposed to notify you when your deal is comin to it's end? (In my case my fixed rate period is ending in september)



Mine still hasn't been taken out. Also I rang them about my 30% & was told there was no way anything could be done until all their technical issues get sorted out, and 'did I not see it on the news'.

My fixed rate with UB ended last July & they were that late sending out a letter to notify me of new rates, that I just automatically rolled onto a variable rate.  Which suited me just fine as their fixed rates weren't great & I've been saving about 80 a month since last year.


----------



## djh

karibou57 said:


> Confirmed, my UB mortgage was supposed to come out today but has not...


 
Me too. 
Usualy comes out on the 7th, or the working day just before that.


----------



## newbie2009

My mortgage is due out today... and my wages due in...

Well, my wages (PTSB) did make my account, (my employer banks with UB) but the mortgage money is still sitting there... however when I check my Mortgage A/C (UB) , the mortgage payment has been credited to my account!


----------



## alexandra123

Just off the phone wit PTSB - my 30% will be implemented for my July payment. Online banking wont show it for a couple of days .

72 euro a month drop for me 
+ another 20 with the new rate !


----------



## JohnJay

Can anyone answer me this question:
I purchased my first property in 2007. I sold it in 2010 and purchased a different one. Where does this leave me with the revenue? The table on their website refers to "Year first principal private residence purchased" - this would be 2007 for me and means I should get the 30% rate until 2017 according to the table. But do I not get this rate now, seeing as I am on my second property/mortgage?


----------



## rameire

Luckycharm said:


> My UB Mortgage hasn't come out yet either my account is with UB - has anyone UB mortgage come out whose main bank account is not with UB?
> 
> As for TRS think we will be waiting where is Rameire when we need him.



thanks for your concern.
was in a serious car accident on tuesday and only got out of hospital yesterday.

but anyway.
revenue and trs.

I think UB will not be updating the TRS until December which will make a nice low December Mortgage payment as we will be due back the extra trs since the start of the year.
as far as the technical problems, I would say once they are fixed this month then the trs will go through this year.

*Karibou57*
if you are coming off a fixed rate you should get a letter one month before the rate ends to advise of the rate ending and to advise what rates will be open to your mortgage

*Kerrymum*
your trs seems a bit weird
you need to contact revenue 1890 463626
it may be that you are still only on 25% and not the 30%
or you are on the 30% and will get the increased money from revenue until the end of the year, or they have it in an account waiting for you to call them.

*GL01*
all banks do differently
but most will give you the owed money over the remainder of the year ( that includes the extra trs for jan to april )

*Random2011*
the repayments are extra lower because you are also receiving the extra trs for the first 6 months of the year, so in jan your repayments will go up slightly.

*JohnJay*
I think you should only be getting 20% trs this year as you are year 7 on trs based on first home bought in 2007.
as you bought a second home in 2010 you are outside the new 30% trs repayment.
just be wary, next year your trs will go to 15% of 3000 or 6000 if married.


----------



## JohnJay

rameire said:


> *JohnJay*
> I think you should only be getting 20% trs this year as you are year 7 on trs based on first home bought in 2007.
> as you bought a second home in 2010 you are outside the new 30% trs repayment.
> just be wary, next year your trs will go to 15% of 3000 or 6000 if married.



you are probaby right, Rameire but the rate I am on now doesnt fit as 15, 20 or 30%, so I dont know how its calculated. I have sent an email to Revenue this weekend to clarify. 

My mortgage is with AIB. They handle TRS in a funny way - they credit my current account with the amount of TRS every month, then take my full mortgage repayment by DD. Because of this I can see exactly how much TRS I am getting every month.

If I am being treated as a non ftb, then should I not be getting a flat 15% every year as per figures here [broken link removed]


----------



## djh

newbie2009 said:


> My mortgage is due out today... and my wages due in...
> 
> Well, my wages (PTSB) did make my account, (my employer banks with UB) but the mortgage money is still sitting there... however when I check my Mortgage A/C (UB) , the mortgage payment has been credited to my account!



ditto


----------



## GL01

rameire said:


> *GL01*
> all banks do differently
> but most will give you the owed money over the remainder of the year ( that includes the extra trs for jan to april )
> 
> .


 

Thanks Rameire.

Sorry to hear about the accident, hope you're on the mend.


----------



## Whatstracker

allie12 said:


> Whatstracker, I got mine applied in June payment (mortgage does out the 7th) so am in my second month!!
> 
> I would call & call them!! There is no reason why everyones is not updated!!


 


alexandra123 said:


> Just off the phone wit PTSB - my 30% will be implemented for my July payment. Online banking wont show it for a couple of days .
> 
> 72 euro a month drop for me
> + another 20 with the new rate !


 
PTSB consistent!


----------



## Whatstracker

Rang PTSB and got pretty much same reply as Alexandra. The extra TRS over the 12 months will be spread over the remaining 6. Next year i'm in year 8 of my mortgage unfortunatley so big rise again


----------



## JohnJay

JohnJay said:


> Can anyone answer me this question:
> I purchased my first property in 2007. I sold it in 2010 and purchased a different one. Where does this leave me with the revenue? The table on their website refers to "Year first principal private residence purchased" - this would be 2007 for me and means I should get the 30% rate until 2017 according to the table. But do I not get this rate now, seeing as I am on my second property/mortgage?



Revenue answered this question for me today. I am treated as a FTB on the older rate - ie 20% for the first 7 years (up to 2013 for me), then 15% of 3000 for until 2017.

I just need to find out now why my calculation of 20% differs from AIB's for 2012!


----------



## tina2201

Has anyone with Bank of Scotland seen a change in their payment? I bought in 2007 & my DD went out today same as its been since the start of the year.
I must ring them to see what they say, but just curious if anyone elses has been updated yet?


----------



## newbie2009

Hi Tina2201
Last I heard was that UB TRS was being updated in December! I suppose it'll be a nice present just before christmas... it will have to be backdated to Jan '12!!

Still no sign of my mortgage coming out of my PTSB A/c.... God, its killing me trying to keep it!!


----------



## karibou57

UB finally took the mortgage payment 4 days later with no reduction... (no TRS change)


----------



## tina2201

Just an update, I spoke with BoS & they advised that most peoples were corrected in May & backdated to Jan at that stage. So their systems must be updated for the correct rate. It just hadnt been applied to my account for some reason! They are to follow up on it, I'm sure I'll have to chase them again. But just if anyone elses hasnt changed you'll need to give them a call because they seem to think its all sorted.


----------



## Whatstracker

Updated TRS showing on my account at last (PTSB).


----------



## karibou57

Whatstracker said:


> Updated TRS showing on my account at last (PTSB).


Still nothing showing up on mine ... UB


----------



## newbie2009

Rang UB last friday.... they advised that they have no idea when they will be able pass on the 30% to customers!


----------



## karibou57

newbie2009 said:


> Rang UB last friday.... they advised that they have no idea when they will be able pass on the 30% to customers!


Have your TRS been increased at least to 25% ? Mine seems to be at 20% and we bought the house in september 2007.


----------



## TableEnd

Just checked ours there and the TRS has changed to reflect 30%!!


----------



## newbie2009

Ive seen no change in my monthly payments at all!


----------



## karibou57

Val_Ally said:


> Just checked ours there and the TRS has changed to reflect 30%!!


 Hi Val_Ally, Which bank are you with?


----------



## becky_1979

Rang UB again & was told that my TRS wont be sorted out until December.  I know some people might think "sure as long as you get it then what does it matter", well it matters to me because its my money & it should have been sorted out sooner, December is not good enough.


----------



## mollser

There was an article in the Sunday Times a few weeks ago stating that they would apply the full 30% in December, and backdated.  However it also said they are applying the 25% to customers now - is that true? How can one tell?  

I would like to know whether to expect a €300 or €600 reduction in December!


----------



## rameire

mollser;1280821  However it also said they are applying the 25% to customers now - is that true? How can one tell?  
 ![/QUOTE said:
			
		

> just ring them and ask, they will have the information on their mortgage systems.


----------



## STEINER

I got a letter today from PTSB dated 17th August saying they made a mistake with the TRS over a period, but it doesn't state the period in question.  I've read the letter a few times and the only things that are clear is an interest overcharge of €12 and reducing the loan balance by about €400.


----------



## Flibble

I received a similar letter. I had thought they might be playing games with the TRS going up to 30% and that backlog (revenue passed on double the normal TRS in June).
I rang PTSB but hadnt a clue what the guy was on about.
I actually started looking around this site for the 1st time to see if I could find an accountant who specialises in throwing an independent eye over mortgage payments.

I rang revenue yesterday who were able to tell me what TRS I had received every month this year. 

The strange thing is that , even though the last ECB interest rate cut is kicking in next month, I am informed by PTSB that my next payment will only be reduced by €3, hence my looking for an independent auditor so I can find out what is actually going on


----------



## STEINER

Flibble said:


> I received a similar letter. I had thought they might be playing games with the TRS going up to 30% and that backlog (revenue passed on double the normal TRS in June).
> I rang PTSB but hadnt a clue what the guy was on about.
> I actually started looking around this site for the 1st time to see if I could find an accountant who specialises in throwing an independent eye over mortgage payments.
> 
> I rang revenue yesterday who were able to tell me what TRS I had received every month this year.
> 
> The strange thing is that , even though the last ECB interest rate cut is kicking in next month, I am informed by PTSB that my next payment will only be reduced by €3, hence my looking for an independent auditor so I can find out what is actually going on



There must be more than just we 2 customers affected.  I will phone them when I get a chance asking for a more detailed explanation in writing.  I am an accountant and their letter doesn't explain in sufficient detail for me.  I need to see calculations etc.


----------



## Mixednuts

I got one of those letters aswell. 

End result was I got €532 knocked off my outstanding mortgage amount and €22 off each months payments .

I am in year 8 of my mortgage so found it strange when I read the letter about a TRS error.

Called them and the guy was very vague, said that they (Ptsb) had been applying too much TRS to my account over a period of time ,hence my principle amount should have been lowered more.
Because of this error the corrected my outstanding principle amount and my repayments would now reflect this.

I asked how come if I was not paying enough tax that they owed me money.
He said it's for my benifit this way .

I'm still confused .


----------



## ellen12

We also got a similar letter from Ptsb. 

When I phoned the explanation seemed to be that they for some reason had been applying Decembers TRS amount to January's payment since 2006 leading to the error. Haven't had a chance to look through our mortgage statements yet to see if this makes any sense....


----------



## iscritto

> I'm still confused.



I think what has happened is you were entitled to more TRS each month than the bank/revenue were giving you. So you have paid more each month than you should have had.
Example (as I am not sure if I am explaining it very well)

Lets say your monthly payment was €1200 each month you pay €1000 and get €200 in TRS. However due to an error your TRS was only paid at a rate of €100 you would have to pay €1100 each month yourself. Therefore overpaying (as such) by €100 each month.

Hope that helps 

On a final note, from what I understand the bank can't gain from an error like this. As such they have, as they have not offered to refund you the money 1st. Now you may decide that applying the money in the format they have is the best option for you but they should ask  if you want a refund as you have overpaid.


----------



## Flibble

@STEINER...
Can you let us know how you get on?
When my next payment goes through I will write to them looking ofr astatement and an explanation as to how my repayments are only going down by 3 Euro after a drop in the mortgage rate.


----------



## newbie2009

Hi all, 
Just wondering if any UB mortgage customers have been put on the new TRS yet? 
Thank You!


----------



## karibou57

Not yet. I paid for the month of october but there was no TRS increase. 
Have your TRS changed?


----------



## newbie2009

Nothing yet either!! I've paid my Oct instalment too!


----------



## karibou57

newbie2009 said:


> Nothing yet either!! I've paid my Oct instalment too!


Well they have only 2 months left. Hope they won't put the money on the capital.


----------



## newbie2009

Just rang UB! It's seems We will have to wait until MARCH 2013!!!!!!!


----------



## karibou57

What?!? These guys are joking? There is surely a way to claim back from Revenue for 2012.


----------



## newbie2009

I rang the Revenue after that... Spoke to a really nice girl who checked with her Supervisor.. The official line is that the Revenue are currently working with the UB with the aim of providing a lumpsum refund in December for 2012, with the introduction of the revised TRS being implemented in March 2013, at which point Jan13 and Feb13 will be refunded! She did confirm that this was not guaranteed!

I also asked if there was any danger that UB would take what they owe us off the Capital instead of taking it off the December mortgage payment and she advised that this would be an issue for UB!!

I hope the above makes sense!


----------



## rameire

ok
so, if UB make a lump sum payment in December to cover the extra 5% for the rest of the year, it will be separate from the normal December Trs payment, thus meaning that it will not reduce the December payment, which would have been great.
But, this will mean that it is sitting as a credit on the account, and you will be entitled to this TRS lumpsum back into your current account.


----------



## newbie2009

Im not sure I follow. I got the impression that we would have a reduced mortgage payment in December (normal payment, less TRS, less backdated revised TRS from Jan12) = reduced overall payment due to UB in Dec?


----------



## rameire

ideally that would be the way it would make most sense and would be most beneficial for us the customers.
The normal TRS payment will come in as normal and will reduce the mortgage payment as it does every month.
But I cannot see the backdated lump sum payment being made to the account on the same day, it will pop in further on in the month.
as it will probably have to be calculated manually or by a separate system that will then apply the payment.
once applied to the mortgage it may be after many peoples direct debit date or it may not be recognised by their mortgage system as a normal trs payment and as a lumpsum trs payment, thus meaning it will not reduce the monthly direct debit.

for example, if you ever receive a lump sum trs payment due to under payment of trs, it is paid in March for the previous year, this payment does not reduce that monthly direct debit, it is lodged as a lump sum and can be withdrawn by the customers.


----------



## newbie2009

Ah I understand! Thank you! God, I really wish they would just sort it out in some way!


----------



## IrlJidel

We're redeeming our UB mortgage - what will happen in this case?  
Will UB's redemption figures include the TRS adjustment?  Will I have to apply to revenue seperately? Will UB send us a cheque in Dec/March?


----------



## rameire

UB will not then make up the shortfall,
you will need to do a tax return to the revenue.
so you will need a cert of interest 
and a statement of trs paid

send both of these off to the revenue.


----------



## IrlJidel

rameire said:


> UB will not then make up the shortfall,
> you will need to do a tax return to the revenue.
> so you will need a cert of interest
> and a statement of trs paid
> 
> send both of these off to the revenue.



Thanks for such a prompt reply!


----------



## peteb

are people saying they continued to get 25% in year 8?  Because I'm pretty sure mine just got cut entirely as my mortgage jumped up €100 between December and January last year.


----------



## rameire

peteb said:


> are people saying they continued to get 25% in year 8? Because I'm pretty sure mine just got cut entirely as my mortgage jumped up €100 between December and January last year.


 
your ceiling would have reduced from 10,000 per person to 3,000 per person.

so if you were paying more interest than 3000 per person on your mortgage this will account for a drop in trs.


----------



## spreadsheet

Some news on this:


----------



## peteb

Love the way they make it sound - "get a payout".  What they mean is get the relief we are entitled whilst Ulster Bank yet again fail to get up to speed.


----------



## Mucker Man

I just paid my November mortgage payment to UB, and my TRS has not increase. Is there anything I can do to ensure I get the relief in my December mortgage payment?


----------



## peteb

nope.


----------



## rameire

The trs lump sum will not reduce your direct debit in December. You will have to write to ub to get the tis lump sum refunded. Or wait till you receive the notice letter and then reply


----------



## becky_1979

rameire said:


> The trs lump sum will not reduce your direct debit in December. You will have to write to ub to get the tis lump sum refunded. Or wait till you receive the notice letter and then reply



Great, which probably means we wont get any money before the new year now, we all know how prompt Ulster Bank is at sending out letters.


----------



## robbie00

I spoke to UB mortgage department last week to confirm I was still on 25% and they advised I would receive a letter out in December advising me of what they owed me for the 5% TRS increase and giving the option to knock it off the mortgage or for them to send me out a cheque for that amount. I presume if they send this letter out in December you wont see any money until well into the new year.


----------



## rameire

Once the money is in the account you can request the refund. So if you use online banking and can see your mortgage you will see the credit hit your account


----------



## rameire

So you won't need to wait for the letter


----------



## robbie00

From the conversation with the person in the mortgage department normal TRS is going to be paid in December and no one will receive any TRS owed to them until they receive the letter and advise the bank if they want it knocked off the mortgage or to be issued it in a cheque.


----------



## rameire

As soon as I see it hit the account I will be sending my own letter. I won't be waiting.


----------



## robbie00

I take it you havnt spoken to anyone in there mortgage department about it. My point is they said it wont be in the account they will calculate firstly what you are due send you the letter in December asking do you want to be issued a cheque or for the money to go off the mortgage then in due course after that they will either take it off the mortgage or send you the cheque depending on your preference.


----------



## rameire

I have. Was told the credit will hit the account the same day the letter goes out.


----------



## newbie2009

Hi all
No sign of my TRS on line yet! Anyone?


----------



## rameire

The December credit hasnt hit the account yet.
You will need to wait for that trs before the other lump sum hits the account. Although the December trs should hit tomorrow Tuesday. So hopefully the lump sum will be this week also.


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## rameire

Ok I can confirm the normal monthly trs for December has now hit. Just waiting on the lump sum now.


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## newbie2009

I still have nothing!


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## peteb

should we expect a letter confirming it before we write?


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## rameire

We should all get a letter advising of the trs lump sum. But there is nothing stopping us send a letter once the credit has hit our accounts.


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## newbie2009

I still have no TRS credit showing on my account!


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## rameire

My lump sum is now showing. Woo hoo.


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## newbie2009

Ah mine is in! All is good with the world!


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## becky_1979

Mine isn't :-(  Anyone else not get it yet?


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## rameire

I believe they are processing the lump sum transaction over the next week so it will be staggered


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## newbie2009

Hi rameire
Any chance of a peep at ur letter? I'm sending one off today too!


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## rameire

Dear sir/madam
My mortgage number is 12345678
I am requesting a full refund of the trs lump sum applied to my mortgage account. 
Please refund €999.99 to my current account 87654321 sort 90 90 90.
If you require further information please contact me on 1800 666 666.
Regards
Mr and Mrs rameire

Signatures and date here.


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## becky_1979

rameire said:


> I believe they are processing the lump sum transaction over the next week so it will be staggered



I hope so, I'm still waiting, haven't received a letter or nothing yet.  If I don't get my money back before the new year they can forget about receiving any money from me in January.  I've just had it up to the ears with UB at this stage.


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## rameire

If I were you. I would ring the bank. Ask how much the credit is and then send in your own letter. It's coming up to Christmas and they probably won't be open much over the period. So they might not get to do your refund until the new year.


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## Luckycharm

Has anyone got their letter yet - I rang today and they said should get in next couple of days which they said last week. I asked if I could send in e-mail letter to prompt it and they said no would be working off their own letters - Pretty unsatisfactory


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## becky_1979

I rang yesterday and they told me the same thing!  Still waiting for a letter... I'm not holding out much hope for anything before the new year!


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## Mucker Man

Got the letter this morning, included a form if I wanted a refund.


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## Luckycharm

Mucker Man said:


> Got the letter this morning, included a form if I wanted a refund.


 
Still haven't got mine - did it say how long refund would take?


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## Mucker Man

The letter said the refund would be paid in 14 days from the receipt of the completed form.


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## becky_1979

No letter either, will be next year then, thanks Ulster Bank!


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## karibou57

Got the letter yesterday!


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## manninp2

Wife got her letter yesterday from UB


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## newbie2009

Hi all,

I sent my letter to UB when I seen the credit appear online.... and it appears that my current account was credited this morning! Just in time for Christmas...


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## rameire

same here,
my credit hit this afternoon.


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## Luckycharm

How long after sending back the letter did it take to get the credit? I sent mine in just before xmas


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## Dannad

*still no TRS change*

Anyone on this thread with AIB?
Our TRS has STILL not changed.
Mortgage capital is approx 600k.
Monthly TRS 166e.
Are we due an increase and back pay?
Thanks.


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## rameire

Aib sorted out their trs early last year.
Contact revenue with your pps number on 1890 46 36 26
Ask the revenue for the ceiling the band and % qualification
Also ask them the first date they have for your mortgage and trs.


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## Dannad

thanks for that rameire


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## Shano

Has anyone else not received any correspondence from ulster bank in relation to this? Still haven’t heard anything from them and could do with the money!


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## karibou57

Any idea of when UB should apply the 30% this year ? Or will we get the same thing at the end of 2013?


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## robbie00

I was onto the revenue about that and they advised me March this year it seems a joke that they refunded last year and still wernt ready tom increase the rate for people this year. 

So expect another letter about what they owe you again around March/April.


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## Cheeus

I was on to Ulsterbank in the last couple of weeks and was told it would be April before the 30% is applied.


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## rameire

Dont forget.
Lower repayments from April due to higher trs. At the correct 30% and any shortfall for jan feb and mar will be spread over the year


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## rameire

Dont forget due to the trs being  correct from april. 
This means lower repayments.
So the correct 30% is being implemented from 1st april.
Any shortfall  from jan feb and mar will be spread over the remainder of the year.


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## siunhantrung

becky_1979 said:


> Got my notice of TRS credit letter from Ulster Bank yesterday, and to my dismay it hasn't been changed to the new 30% rate (bought my house in 2008) &lt;br /&gt;
> &lt;br /&gt;
> Has anyone else noticed that their rate hasn't been adjusted yet?


&lt;br /&gt;
&lt;br /&gt;
 ThiÃªn Long HÃ¹ng BÃ¡ hay nh?t 2013


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