Mortgage TRS question

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grahamo

Registered User
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Hi all, I just found out I am not receiving mortgage TRS on my mortgage. I was receiving it until 2009 then it stopped???
I purchased my house in 2006 with a new mortgage. (Not a 1st time buyer) I Previously bought an apartment in 2000.
Am I still entitled to mortgage TRS? I've looked at the revenue website and its a bit confusing. I was entitled to it for 7 years but was that 7 years from 2006 or 2000 when I got my 1st mortgage?
 
Hi Grahamo

You can claim TRS from 2006 to 2017 but not at first time buyer rates (I am in a similar position although I have claimed it from the start).

I would imagine that if you are taxed under PAYE then you have missed out on 2006 relief due as you can only claim back for 4 years (if not PAYE then it's 4 years from date return was due, so effectively 5 years).

This says you must claim for prior years online (link is under point 4)
 
It might be best to ring the Revenue and enquire as to why it stopped. I bought a house in 2006 (also not a first time buyer) and was also receiving TRS up until the end of 2009. When I rang the Revenue early last year to enquire as to why it had stopped, they explained it was because the rates had changed for non-first time buyers since the 2010 Budget, and since they were unsure as to whether I was a first-time buyer or not, they stopped the benefit. They did re-instate it on foot of my phone call but it was a major reduction to what I had been getting previously.
 
Thanks for the help everyone. It turns out I am still entitled to interest relief even though I'm not a 1st time buyer as I bought at the peak between 2004 and 2009. Its at a lower rate of 15% but its better in my pocket than theirs.:) It seems all non first time buyers had there mortgage interest relief cancelled in 2009 while they worked out who was entitled to it. The only thing is I have to apply all over again.
 
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