Thursday, July 29, 2010

Can i receive the full amount of interest that i paid on my mortgage for the past five years?

in the past five years i have paid a sum of 33.000 euro interest on my mortgage only recently i heard that you can claim all the interest back


is this true or if not how much could i claim ?i also live in irelandCan i receive the full amount of interest that i paid on my mortgage for the past five years?
The interest you pay on a mortgage is the ';fee'; for the service of borrowing that money from the lender; it's how the lender makes a living! Can your employer claim back your last five years wages from you? Of course not!





Whatever you thought you heard, you weren't really paying attention!Can i receive the full amount of interest that i paid on my mortgage for the past five years?
You wish ...





If you are unemployed, you may be able to get help paying the Interest, however (at least in UK) this is not backdated ..





In UK, there is an on-going argument about how legal / reasonable Bank (Penalty) Charges are .. once this is settled it is likley that the Banks will have to repay some of the charges they made on unauthorised overdrafts or for 'bouncing' cheques / standing orders / direct debits due to lack of funds (you can be sure they will find some other way to hit you ..) .. however I have no idea if (or how) this will apply to RoI ..





Finally, it is just possible that you have been charged some excessive rate of interest 'in error' ..





Other than the above, I can think of no reason why anyone should expect to get their Mortgage Interest back :-)
If you were in the UK I would suggest speaking to your MP. They're all experts at wrongly claiming back mortgage interest.


Suspect however the answer is NO.
i double doubt it very much

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