TRS reduced why?

R

rania

Registered User
Messages
84
our Trs increased in may as per budget
it has now decreased by more than half since june 19.
why?who do i contact regarding this?thanks
 
You would need to be more specific.
When was the mortgage drawn down ?
What type of mortgage do you have ?

It could be that maybe the bank has reduced their rate - this means that you effectively pay less but also the trs on this will also be reduced as the repayment amount is lower.
 
TRS is tax relief on the interest you pay on your mortgage.

I would guess that your interest rate has decreased and that your TRS has decreased accordingly.

Contact your bank to be sure.
 
How are you able to see your TRS amount? On an SVR with BOI and aside from one extremely confusing statement, they've never shown us any documentation. Definitely never been able to see how much TRS we're saving each month.
 
With PTSB they give you the break down. You can see it on your online banking - example below

Original Term: 360 months
Remaining Term: 282 months


(TRS): Loan is in the TRS scheme.
TRS Amount: €227.22
 
leonmahon said:
How are you able to see your TRS amount? On an SVR with BOI and aside from one extremely confusing statement, they've never shown us any documentation. Definitely never been able to see how much TRS we're saving each month.
Click to expand...

I have a BOI mortgage. On my mortgage due date the monthly payment is deducted from my account. At the same time TRS is credited to the same account.
 
Last edited:
Cheers, will check that out (payment comes out of OH's account). We overpay so I'm not sure how that affects it.
 
Same thing happened to us. Went from approx €80 to just over €40. Never followed up on it, might get round to it some day!

As for seeing it, well it goes into our current account the same day the mortgage payment comes out. We see it online.
 
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