Will tracker mortgages be taxed at next budget

The abolition of TRS for trackers would be seen as a form of tax.
 
Many people on trackers are no longer eligible for TRS anyway, as they secured their mortgage over 7 years ago. If the abolishment of TRS relief for tracker customers is to be introduced, it would only be people who took out a tracker mortgage over the last 7 years who would be penalised. Surely this in itself would be inequitable, as recent mortgage borrowers have more money to pay back, yet they would be the ones being punished?

I think that there is a lot of unnecessary speculation going on here...It's interesting to note that the thread entitled "any chance of banks wriggling out of trackers" has not been active for over 6 weeks. http://www.askaboutmoney.com/showthread.php?t=135875
This is because, at this stage, people know that the banks have no way of reneging on tracker deals.

Similarly, I'm sure that this thread will become inactive soon, as it is pure speculation which is highly unlikely to ever materialise.
 
Joe Q Public said:
When were the last trackers available?
Click to expand...

I think the banks ceased giving out tracker mortgages at the end of 2008.

However, there are many people out there who signed up for mortgages
which had a few years fixed and then automatically went on to trackers
for the remainer of the mortgage term.

So, there are people who are just being converted onto tracker mortgages
as we speak, although their contract agreement would have been signed
2 or 3 years ago.
 
Ha ha. Taxing people with tracker mortgages. That's the best urban legend with regard to the budget yet!

It's ridiculous. I think whoever suggested was pulling your leg.
 
I think it's safe to assume we'll all be paying extra taxes (hidden and not so hidden) after the next budget, tracker mortgage or not!
 
Paulk said:
I think that there is a lot of unnecessary speculation going on here...It's interesting to note that the thread entitled "any chance of banks wriggling out of trackers" has not been active for over 6 weeks. http://www.askaboutmoney.com/showthread.php?t=135875
Click to expand...
Last time I checked that thread was locked for some reason (?). I wanted to add to it as I got a call from my bank asking for proof again of insurance cover (this - after they asked for written confirmation last year). I was curious if this was normal - or are they keeping a closer tab on it for other reasons?
 
afaik, there are no new tracker mortgages getting offered by any Irish bank/
 
Paulk said:
Many people on trackers are no longer eligible for TRS anyway, as they secured their mortgage over 7 years ago. If the abolishment of TRS relief for tracker customers is to be introduced, it would only be people who took out a tracker mortgage over the last 7 years who would be penalised. Surely this in itself would be inequitable, as recent mortgage borrowers have more money to pay back, yet they would be the ones being punished?

I think that there is a lot of unnecessary speculation going on here...It's interesting to note that the thread entitled "any chance of banks wriggling out of trackers" has not been active for over 6 weeks. http://www.askaboutmoney.com/showthread.php?t=135875
This is because, at this stage, people know that the banks have no way of reneging on tracker deals.

Similarly, I'm sure that this thread will become inactive soon, as it is pure speculation which is highly unlikely to ever materialise.
Click to expand...


that thread is just sleeping...........property tax in 2011/12 will mean valuations of houses. these valuations will be used to calculate updated LTV's. If your on an LTV tracker and you fall outside the boundries, your screwed!
 
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