Mortgage Interest Releif Stopped!
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Hi
€150 mortgage interest relief stopped this month on us, I mean how much more money are they going to take from us!! SERIOUSLY!!
Where the hell do you pull another €150 from i dont have a money tree! Can anyone tell me if theres has been stopped? I know it changed in the busget but i thought they added another 10 years. Very upset over this. Thats €30 childrens allowance, €45 Childrens supplement, €150 tax releif!! Thats €225 down this month already. I knew it was on the cards but it stings so bad! 
ours stopped months ago…. think if your loan is 7 years or more its stopped!!! i know its alot to soak up
Time limits for mortgage interest relief
Your entitlement to mortgage interest relief depends on the start date of your mortgage.If you took out the mortgage in 2003 or earlier, your entitlement expired in 2009 under the provisions of the Supplementary Budget of April 2009.
If your mortgage started between 1 January 2004 and 31 December 2009, your entitlement to relief will now continue until the end of 2017, as announced in Budget 2010.
If you take out a mortgage between 1 January 2010 and 30 June 2011, you will get relief for 7 years (subject to any change announced in the Finance Bill).
If you take out a mortgage between 1 July 2011 and 31 December 2012, your entitlement to relief will be subject to transitional arrangements, which have not yet been finalised. Again, the details are expected in the Finance Bill
For mortgages taken out after 31 December 2012, no mortgage interest relief will be allowed – details in Finance Bill.It only lasts 7 years now.
years 1& 2 = 25%
years 3, 4 &5 = 22.5%
years 6&7 = 20%I bought in dec 08 and Im already in year 3 ….weep weep.
Its a sickner
I thought it was just 7 years too. I took my mortgage out in 2005 – do I now get relief until 2017? I got a letter in January saying that it was now reduced but still have relief.
We are in the middle of trying to sort this out. We remortgaged in 2006 and should still be getting relief on the extra mortgage but havent received it. I filled out the relevant forms last April and heard nothing as yet. Rang the tax office and of course there was no sign of my forms so now have to re -do them and hope for the best. Hopefully it will be backdated to when it was stopped….
just another in the long list of hidden things that keep popping out of the last budget……think we have got it and then realise something else is happening and money is going yet again…….. 🙁
Just on the phone to the revenue this morning, we lost ours last may. In November i realised that we were eligible for relief on the additional mortgage for our extension. Sent all of the forms in in December and am still waiting for First Active to activate the instructions from the revenue. Spoke to a really nice lady this morning, all rebates for 2009 are being dealt with in March.
I rang the trs section 1890463626
The systm picked up i was receiving releif for 7 years, but i moved into my new house in 2006 so im entitled to 15% now until 2012. So €75 every month. Have to wait till April but hey its better than nothing i suppose. 🙄 Really relied on that €150 a month!!! aaarrrggghh!! Thanks for all the replies.
it’s confusing isn’t i thought that it was intially 10 years then reduced to 7 years so we’re here 6 yrs in april does that mean we’ve a year or 4 years?
happy double check yours if you haven’t been in 7yrs iykwim
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