Claiming Mortgage Interest Relief for Prior Years

[Lister1]

Folks,

I am currently in the midst of claiming back mortgage interest relief for prior years. My lender has sent me out interest certificates for 2006, 2005 and 2004. My mortgage came into effect in January 2004 and I was surprised to find that there was a massive difference in the amount of interest paid in 2004(around 218euro) compared to the two subsequent years(around the 5/6 grand mark). I will be in touch with them on Tuesday to question it but was wondering what peoples views on it would be. Does this seem like an error to you? Appreciate any feedback. Thanks.

Lister

 

[ClubMan]

Try Karl Jeacle's mortgage calculator to see what sort of interest you should have been paying each year. Enter the amount, term and rate (e.g. an approximate rate covering the relevant years) and look at the annual summary.

 

[GreatDane]

Hi

Was there a promotional interest rate in Year 1, whereby the lender had perhaps significantly reduced it's lending margin or perhaps waived it entirely for part of the year ?

Cheers

G>

 

[Lister1]

As far as I know there was no promotional rate in the first year so I think it must be a mistake on the banks part and will let you know after I talk to them tomorrow.
http://www.jeacle.ie/mortgage/ie/