Mortgage Certificate of Interest

A

ash26

Registered User
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Hi All

I just received my first cert of interest and I want to find out what this means....

Thanks


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I suppose there is no hope of getting any of this money refunded? Might be a silly question but it is my first mortgage and i am new to all this!
 
ash26 said:
I suppose there is no hope of getting any of this money refunded? Might be a silly question but it is my first mortgage and i am new to all this!
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Are you getting Mortgage Interest Relief? It is called TRS ( Tax Relief at Source).

Unless the bank made a calculation error or didn't apply TRS you won't have any hope of a refund.
 
Hi Steiner

I had thought i would be getting the TRS but when i rang revenue they advised that we would not be entitled to it, no FTB is at the moment!
 
ash26 said:
I had thought i would be getting the TRS but when i rang revenue they advised that we would not be entitled to it, no FTB is at the moment!
Click to expand...


Not to pick on Ash26 but this reminded me of something I read once about how we spend more time choosing a Car and related Finance suited to our needs and means, than we do for a house.

It is worrying that it is only after entering into a contract for 10 - 35 years that you are finding out about total interest payable, not being eligible for TRS etc.
 
To be honest i never even thought about TRS when purchasing our main focus was purchasing well within our means and not getting in over our heads where borrowing was concerned.

We spent over 3 years looking for the right house so i def think i put alot of thought into it!
 
You should also have received an annual mortgage document documenting your original capital balance owing, the monthly repayments, the interest applied and the current capital balance owing.
 
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