trs question

[kada_fd]

i applied a few months ago for trs on my mortgage..and they said they would back date it for 1 years worth..i still have to fill out the trsp form to get it back for the other 2 years previous
my question is...i have gotten 2 large repayments back in a row..about 580euro, but i thought there would be one large back payment and then back to lower amount of trs for each month..
i originaly thought this would be the amount i would get back, but thought it would be in one payment, has this happend to anyone else?

 

[burger1979]

Hi,

I have the same issue with TRS. I drew down my mortgage on the 2nd september and paid the full amount on the 2nd october without TRS. i had applied to the revenue but it had not gone through. Then on the 2nd of nov and dec i have received over €500 back in TRS??? i thought that the interest for the year would not stretch over the €10000.00 threshold therefore i would not be able to calim the full amount each month??? all very confusing. there are 2 people on the mortgage by the way.

anyone can help what is going on?

burger1979

 

[Dreamerb]

..about 580euro, but i thought there would be one large back payment and then back to lower amount of trs for each month..
i originaly thought this would be the amount i would get back, but thought it would be in one payment, has this happend to anyone else?

It depends on your lender. If there are TRS arrears, as in your case, some lenders will refund as a lump sum, others will spread it over the rest of the year. Apparently this is at the discretion of the lender, and the TRS side in Revenue don't regulate how it's done (according to someone I spoke to there about it when the same thing happened to me).

anyone can help what is going on?

Hard to comment without an idea of principal amount and rate, but if you're likely to have incurred €5000 in interest by the end of the year there's nothing to worry about. If you have a mortgage of €300,000 at 5%, four months' interest will work out at about €5k.

 

[burger1979]

Hard to comment without an idea of principal amount and rate, but if you're likely to have incurred €5000 in interest by the end of the year there's nothing to worry about. If you have a mortgage of €300,000 at 5%, four months' interest will work out at about €5k.

that sounds about right actually. my mortgage is 5.2% on 379K, dreamerb you must have a magic ball to see my mortgage payments

fancy paying it off for me too???? or even to see if that ball can predict wining lotto numbers???

thanks for the help