Bank struggles to pay relief

Ulster Bank is still struggling to pay customers the full value of their mortgage interest relief and does not expect to have the problem fully resolved until March — 15 months after the measure was announced.

The bank fully reimbursed its customers in December for failing to give them the full 30% of the mortgage interest relief that was announced in the budget of 2011.

Due to a problem with its software the bank had only been giving customers tax relief at source (TRS) of 25%.