Thanks to an IT screw up, over 270,000 home owners are currently paying more than they should for their home loans.
In total, 270,566 people are eligible for the increased rate of mortgage relief, which is set at 30 per cent. They have been entitled to this since January 1 when the changes to the relief system were introduced.
However, some of the main banks haven’t yet passed on the increased rate of relief because of “delays in the updating of information technology systems”. The banks include AIB, Bank of Ireland, Ulster Bank and KBC.
So how long will you have to wait to get your extra relief? Well, customers who have yet to receive their extra relief will have to wait until April, when systems will be updated. April? They must still be on hold to the IT support centre in Mumbai so.
However, the wait might just be worth it for some, as the tax relief scheme could see some couples netting up to €2,000. According to the Irish Times, the Revenue confirmed yesterday it might take “some months” to complete the required technical changes.
However, it is Ireland after all. “Some months” could mean anywhere between April and April of 2014.
[Image via IoM Flicker]
