PTSB letter change in tax relief

T

tesoruccio

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I got a letter this morning from PTSB saying my mortgage was going up by €60 a month due to rate change in tax relief at source.

I wasn't expecting this. Was it in the recent budget? Mortgage taken out in 2009.

Thanks
 
If your mortgage was taken out in 2009 then you are in year 3 of TRS. The relief goes down from 25% to 22.5% between year 2 and 3.
 
You must be an a variable rate mortgage, PTSB announced earlier this week they are increasing their rates
 
I am on a fixed rate and got the same letter today.

I took out the mortgage in 2009 also.

I think plant43 is correct :

revenue.ie/en/tax/it/reliefs/tax-relief-source-mortgage-rates.html (wont let me paste link!)

Bummer!
 
I got a letter aswell and mine went up either 3 or 6 euro. I forget which it was :)
 
Can anyone answer the following,

We bought our house in June 2006 for 310K (100% Mortgage). We have a tracker mortgage of ECB + 1.1%. Mortgage balance is approx 288K.

Received a letter from PTSB yesterday telling me our Tax Relief at Source would now be €106.41c.


Is this correct. Our repayments have gone up by €18 per month.
 
by the looks of it the trs is based on a mortgage balance of around €304k with a yearly interest figure of €6384.

if the balance was €288k the trs would be around €100.5 per month.
 
There is no need to tell anyone, it will correct itself as the year goes on. As your bank report each month with a corrected figure of interest charged and interest due for the rest of the year. So as the year goes on the trs will reduce slightly. That is if the balance you gave is correct
 
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