Tax Relief at Source on Rental Property Mortgage

[jokerini]

John rents out a property that used to be his main residence.

He never informed the bank because he was afraid of losing his tracker mortgage. He is therefore receiving tax relief at source when he is not entitled to it. He is much more concerned about the tracker mortgage issue than the Revenue Commissioners.

He declares his rental income to Revenue. He claims 75% gross mortgage interest (before TRS) as an expense.

Can he pay the TRS back to Revenue without letting the bank know?

Or does he have to tell the bank first and then hand the money back to Revenue?

Thanks in advance

 

[Clara16]

I rent out my property that used to be my main residence, I never told the bank I simply called revenue and cancelled the TRS I think I remember I had a form to fill in.
there was no issue with bank when TRS was cancelled and I have remained on the same rate. mortgage is still in negative equity, property doesn't wash it own face as it is so cant afford a rate rise.

 

[elcato]

In short, no. Bank won't know. There could be plenty of reasons for trs to be cancelled and banks not going to go through all sorts correspondance on the off chance.