mortgage interest relief from budget 2012

helen1

eimear1 wrote: »

I'm on tracker with Ulster Bank, spoke to them yesterday, she just told me that their IT systems were not able to handle the extra few %, and they might get round to it by end of the summer, and i should ring back then! She admitted that Revenue had everything sorted their end and UB were the ones at fault

They were talking about it on the consumer show last week and they got a statement from Ulster Bank saying it wont be done until the end of the year:mad:

eimear1

helen1 wrote: »

They were talking about it on the consumer show last week and they got a statement from Ulster Bank saying it wont be done until the end of the year:mad:

Yeah, just found that out here now - wish i had known before i spoke to her!! Bit frustrating when its our money they are holding onto just cos they cant figure out how to add another tax bracket to their system, they'd be after me if i owed them!!!

rameire

you are going to get it in the end.
what is the problem with waiting

Pablod

Bank of Ireland implemented their increase in May, increase came through but no sign of a backdated-payment.
Will have to work it out,
Could be wrong but I think they might be paying the backdated amount spread over next few months?

rameire

thats exactly it PabloD

Play Bunny

i got something in the post last last wk stating that we would be getting it BUT it wont effect our monthly payments it comes off the actual loan itself or something to that effect anyway..i'll see the end of this mth not expecting anything..:rolleyes:

KoolKid

My TRS went up this month . Its pretty much double what it was , so there does not seem to be any back money there. I have not received anything in the post re this.

rameire

Play Bunny wrote: »

i got something in the post last last wk stating that we would be getting it BUT it wont effect our monthly payments it comes off the actual loan itself or something to that effect anyway..i'll see the end of this mth not expecting anything..:rolleyes:

if the back payment is made as a lumpsum towards your mortgage, you are entitled to withdraw that money from the mortgage.

rameire

KoolKid wrote: »

My TRS went up this month . Its pretty much double what it was , so there does not seem to be any back money there. I have not received anything in the post re this.

what most banks will do is spread the back payments over the remainder of the year in addition to the actual trs you should be getting.

transam

im with ptsb on a tracker and still nothing...

Play Bunny

once we get it i dont mind, i think they are cutting interest rates in the next few mths apparently , im on a tracker with UB as well...

finlma

Still no sign of this from Ulster Bank. Apparently their IT systems aren't ready for it yet. They must be using a Commodore 64 in there.

Play Bunny

finlma wrote: »

Still no sign of this from Ulster Bank. Apparently their IT systems aren't ready for it yet. They must be using a Commodore 64 in there.

Lolnot holding out much hope

transam

we got our trs up to 30% last month but still no backpay to january, it will take few months i been told, we are with ptsb

musiknonstop

I'm with EBS and have not received any notification of a change in TRS. Is anyone else with EBS in the same boat?

According to the Consumer Show they've implemented the 30% since April.

finlma

Still no sign of this from Ulster Bank. What a joke of a bank. How difficult can it be for a computer system to change from 25% to 30%. It hardly takes a year of programming.

The issue is starting to get a bit of media coverage at least:
http://www.finegael.ie/latest-news/2012/ulster-bank-mortgage-inte/index.xml
http://www.independent.ie/business/irish/ulster-bank-has-still-to-pay-boom-buyers-higher-tax-relief-3209781.html

Kenny Logins

finlma wrote: »

Still no sign of this from Ulster Bank. What a joke of a bank. How difficult can it be for a computer system to change from 25% to 30%. It hardly takes a year of programming.

The issue is starting to get a bit of media coverage at least:
http://www.finegael.ie/latest-news/2012/ulster-bank-mortgage-inte/index.xml
http://www.independent.ie/business/irish/ulster-bank-has-still-to-pay-boom-buyers-higher-tax-relief-3209781.html

More here http://www.boards.ie/vbulletin/showthread.php?p=81749662

rameire

You will get it December .

peteb2

you mean they will process it in December! With a slew of requests for credit cheques going in to them in that month, can't see anyone getting the cash until January!

rameire

Yes.

rameire

Lump sum has hit my account

phatAlbert

good to know rameire, thanks. If you don't mind me asking was it your mortgage account that got the lump sum or the account you pay your mortgage from?

rameire

It is on my mortgage account

s_carnage

phatAlbert wrote: »

good to know rameire, thanks. If you don't mind me asking was it your mortgage account that got the lump sum or the account you pay your mortgage from?

Mine hits the account I pay my mortgage from.

phatAlbert

Thanks guys, I pay my ulster bank mortgage from a non-ulster current a/c. I haven't received any payment to my current a/c but haven't yet checked my ulster mortgage a/c.

km79

I just rang. No credit yet. They are "doing up" letters telling us how much we are due and giving option to take money or put against mortgage

Play Bunny

Wish they wud hurry up...wonder how much it will b

rameire

If you add up all the trs posted to your mortgage this year. Divide by 25 and multiply by 30. Take this amount away from what you have received and that is your answer.

Kenny Logins

rameire wrote: »

If you add up all the trs posted to your mortgage this year. Divide by 25 and multiply by 30. Take this amount away from what you have received and that is your answer.

..or multiply one month by 2.4 (assuming 12 months)?

Play Bunny

Got notification this morn finally ....dated 12th dec says we have 14 days to return a form saying whether we want it paid into a seperate a.c , with xmas post etc talk about cutting it fine...