Hi All,
I have a PTSB mortgage, originally first time buyers, just over eight years into the mortgage. I just recently took a three month mortgage holiday. Before the mortgage holiday my TRS was €150 per month - 30% of €6,000.
So I just checked my new repayment, expecting it to be approximately €15 more per month to compensate for the mortgage holiday. But it is actually less than old repayment amount. The reason, it seems, is that my TRS amount is now €206.25 per month.
So my question is, is there some kind of adjustment that allows you to carry over the TRS not used during the three month mortgage holiday, and spread it over the remaining months in the tax year? Or have they simply gotten it wrong? I cannot figure out where the €206.25 amount has come from!
My mortgage repayment is due tomorrow and that will be the third one with the €206.25 TRS amount, as I am only realizing now there is something up. I am afraid of what I will end up owing them a decent lump sum if I keep letting it run incorrectly.
I have a PTSB mortgage, originally first time buyers, just over eight years into the mortgage. I just recently took a three month mortgage holiday. Before the mortgage holiday my TRS was €150 per month - 30% of €6,000.
So I just checked my new repayment, expecting it to be approximately €15 more per month to compensate for the mortgage holiday. But it is actually less than old repayment amount. The reason, it seems, is that my TRS amount is now €206.25 per month.
So my question is, is there some kind of adjustment that allows you to carry over the TRS not used during the three month mortgage holiday, and spread it over the remaining months in the tax year? Or have they simply gotten it wrong? I cannot figure out where the €206.25 amount has come from!
My mortgage repayment is due tomorrow and that will be the third one with the €206.25 TRS amount, as I am only realizing now there is something up. I am afraid of what I will end up owing them a decent lump sum if I keep letting it run incorrectly.