Advertisement
If you have a new account but are having problems posting or verifying your account, please email us on hello@boards.ie for help. Thanks :)
Hello all! Please ensure that you are posting a new thread or question in the appropriate forum. The Feedback forum is overwhelmed with questions that are having to be moved elsewhere. If you need help to verify your account contact hello@boards.ie

mortgage increase 2013

Options
  • 21-01-2013 10:33pm
    #1
    lojeno
    Registered Users Posts: 17 ✭


    since 01.01.2013 my repayments have gone up by 112!! EBS has informed me this is because of a decrease in the amount of Mortgage interest relief we are entitled to.
    apparently after 7 years (bought in '06) you are not considered a FTB and although the relief is still at 30% for us boomers (04-08) the ceiling drops from €20k to €6k for married couples.
    revenue confirmed this to me and I understood it, but I can't find anyone else in a similar position, it's hard to believe that more people aren't voicing their shock at this massive monthly increase.
    anybody out there in the same situation?


Comments

  • Options
    #2
    The_Morrigan
    Registered Users Posts: 9,368 ✭✭✭The_Morrigan


    AFAIK under typical circumstances after 7 years the mortgage interest relief stopped, so the extension to 2017 that was announced as part of the 2012 budget is somewhat a 'bonus' for those that paid extremely high prices for their houses during the boom, albeit it is at a lower level.

    So it's not really something to be shocked about in fairness it was announced back in 2011.


Advertisement