TRS for joint owners

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buttonmoon

Registered User
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Myself and my girlfriend bought an apartment 2 years ago.

The mortgage was for €264k and repayments are €1348.52 a month (interest is €-1,013.96). The TRS comes in every month at €132.59.

My gf thinks that the TRS we're getting is only for one person but since we're both working we should be getting TRS for two people.

Is that right or does that TRS we're getting sound about right?
 
I am interested to know this too as I have rang the TRS section but to date payments haven't changed!

Should I be getting 2* 8000 = 16000*20%=3,200/12=266
 
I think the way it works is that you get relief on interest up to €16,000 pa. So if the monthly interest is 1013 * 12 = 12156 * 20% = 2431.20/12 = €202.60.
 
€16K is the maximum amount of interest that two joint buyers still in the 7 year "FTB" preferential rate period. If you pay €16K or more interest p.a. then you get the maximum relief of €266.67 p.m. If you pay less than €16K then you get relief on the actual amount paid. In the original poster's case the interest seems to be c. 12 months x €1K = €12K so the joint relief would be worth €12K @ 20% / 12 months = €200 p.m. as the previous post also explains. Not sure where €132.59 is coming from since the normal maximum single relief amount would be €133.33 p.m.
 
Well, the €132.59 figure is copy-n-pasted from my online NIB account (which, by the way, I changed over to thanks to this site and it saved us €20 p/m AND knocked 5 - yes, FIVE - years off the term of our old ICS mortgage. Thanks again ClubMan & Co - I owe yous a pint!)

I'll try ringing NIB and the taxman to see If I can sort it out.

I'll post my findings.
 
I rang the bank and they told me to ring the Revenue.

The number for the Revenue TRS section is: 1890 46 36 26

The lady there told me that our TRS would be wrong because apparently only I filled in a TRS form and my gf didn't so she said to go to this page:
[broken link removed]

Fill in my gfs details and the correct TRS will be in next month plus any back payments.

Thanks for the help!
 
Still doesn't explain the figure mentioned above. If you were just getting single FTB relief then it should have been €133.33 p.m. and not €132.59. Marginal difference but odd and worth getting to the bottom of. Note that even calculating the relief on a daily basis (e.g. ((€8K @ 20%) / 365 or 364 days) x number of days in month (28, 30 or 31)) does not yield the figure above.
 
Hi, resurrecting this thread as I have a similar query. Not so much interested in the figures, just the process.

We are a non-married couple. Just bought new house. Should we fill out two TRS forms? There is a line on the TRS form that says "...each claimant must complete a seperate TRS1 form...". And on the form itself there is no space for entering multiple person details (unless married).
 
You fill out one for you and a seperate one for him. I called the revenue about this just over a month ago.
 
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