Too much mortgage relief?

S

swordshead

Guest
My account got credited with €508 trs this month and im not sure why. My first mortgage payment came out last month, second was obviously this month. I thought trs was €133/mth for a FTB...so anyone an idea why i got €508? Also i thought it comes off the mortgage amount..this was a separate transaction in my current a/c!
 
it was probably what was owed to you as the TRS does not come out of your account immediately so it is prob just back dated i am expecting €399 to be backdated to me!!!
 
But if the mortgage only started last month how would there have been anything to backdate?
 
If the mortgage only started in November 2007 then I can't see why you would have received €508 rather than €133 (assuming that you qualify for full FTB relief).
 
Im stumped!:confused: Is that how trs works i.e. your current a/c gets credited..or is it off your mortgage repayment? Who can i contact to see what this is about and can they debit it aswell as credit it..the extra money this month is a gift..but dont want to go spending it until i know why its there!
 
swordshead said:
Im stumped!:confused: Is that how trs works i.e. your current a/c gets credited..or is it off your mortgage repayment? Who can i contact to see what this is about and can they debit it aswell as credit it..the extra money this month is a gift..but dont want to go spending it until i know why its there!
Click to expand...

Here's a stab at it. Mortgage of approx €600,000. Interest per annum @ 5% of €30,000 meaning €2,500 per month in interest payments. As you will only have paid 2 months interest i.e. november and december this is under the limit of €8,000/€16,000 for year so whole lot is allowable. Just a guess

Some banks take net amount after TRS from your current account and some banks take the gross amount and lodge the TRS back into your current account. Same net result
 
That could be it alright Clarkey! swordshead should query the specifics with the lender and/or Revenue to make sure that it's all correct.
 
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