According to the legislation – mortgage interest relief should be based on the amount of mortgage interest actually paid in a tax year. Up to now many lenders operated the relief scheme based on the amount of interest that was charged on a mortgage – even if the borrower did not actually pay that amount […]
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TRS
Mortgage Tax Relief Ending Soon
There is less than 3 months left before mortgage interest tax relief (TRS) will be abolished on new mortgages in Ireland . Any Mortgages taken out on or after 1 January 2013 will not qualify for any mortgage interest relief. This was announced in Budget 2012 back in December 2011. On a Mortgage of €180,000 […]
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TRS Increase to 30% – Ulster Bank Customers Still Waiting
In the 2012 Budget – back in December 2011 it was announced that mortgage interest relief would be increased to 30% for those who bought their homes between 2004 and 2008. It seem that Ulster Bank still haven’t implemented this change fully yet. Ulster Bank say they are liaising closely with Revenue to implement these changes […]
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30% Mortgage Interest Relief Delayed for Thousands
Thousands of mortgage payers still haven’t received the promised increase in mortgage interest relief that was announced in Budget 2012. (Also known as TRS) See details of TRS Budget 2012 Changes The higher 30% interest relief was promised for people who bought their first home between 2004 and 2008. It is now May – and […]
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Delays in Mortgage Relief Increase
Budget 2012 in December 2011 saw increases announced to the rate of Mortgage Interest Relief (also known as TRS) for some home owners. But problems updating computer systems has resulted in delays to the changes. The Budget 2012 TRS Changes meant that over 250,000 people should get a new rate of TRS of 30 per […]
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