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No mortgage interest relief paid to some AIB customers

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    #2
    jameshayes
    Registered Users Posts: 3,772 ✭✭✭jameshayes


    It only happened to those who pay their mortgage on the last day of the month, I cant imagine many people would be in that boat?

    Slow news day I'd say


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    #3
    FastFullBack
    Registered Users Posts: 1,455 ✭✭✭FastFullBack


    I pay mortgage on 28th of month, but I got the interest relief for Feb (came through on March 2nd) but I ain't got it all all for March which seems odd. Anyone else in same boat?


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    #4
    jameshayes
    Registered Users Posts: 3,772 ✭✭✭jameshayes


    did you buy your house in march? the annual reduction?


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    #5
    MrWalsh
    Closed Accounts Posts: 2,664 ✭✭✭MrWalsh


    I noticed in February that the mortgage interest relief was a lot less than usual, but then in March it was a lot higher than usual - so not sure what is going on.


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    #6
    jameshayes
    Registered Users Posts: 3,772 ✭✭✭jameshayes


    interest is calculated per day - less days in feb?


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    #7
    MrWalsh
    Closed Accounts Posts: 2,664 ✭✭✭MrWalsh


    jameshayes wrote: »
    interest is calculated per day - less days in feb?

    Thats not how it works, the details are available here:
    http://www.revenue.ie/en/tax/it/reliefs/tax-relief-source-mortgage-rates.html


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    #8
    MrWalsh
    Closed Accounts Posts: 2,664 ✭✭✭MrWalsh


    Ok - so I have deduced what appears to be going on according to my mortgage interest relief anyway.

    I receive relief at 75 euro per month for a total of 900 per year (30% of a ceiling of 3000 annually).

    Usually I see 75 euro per month into the account.

    In January I saw 75 euro.
    February I saw 11.43 euro.
    March I saw 81.36 euro.

    I looks like they messed up giving only 11.43 in February and are now going to rectify this by giving 81.36 per month for the rest of the year:

    81.36 * 10 = 813.6 (10 months at this amount)
    813.6 + 75 + 11.43 = 900.03 (plus January and February figures).

    This brings it up to 900 euro over the course of the year.

    Its a bit naff that they didnt rectify it by making the amount 138.57 in March and then continuing with 75 per month for the rest of the year though. It means that my account is not back to normal until December.


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    #9
    OpenYourMind
    Registered Users Posts: 27 ✭OpenYourMind


    FastFullBack wrote: »
    I pay mortgage on 28th of month, but I got the interest relief for Feb (came through on March 2nd) but I ain't got it all all for March which seems odd. Anyone else in same boat?

    Same as you exactly..


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    #10
    FastFullBack
    Registered Users Posts: 1,455 ✭✭✭FastFullBack


    OpenYourMind wrote: »
    Same as you exactly..

    Mine came through a few days back anyway


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