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Mortgage interest relief

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  • 16-10-2008 11:05am
    #1
    niall_walsh
    Registered Users Posts: 112 ✭✭


    I may be mad but i'm pushing on with a first time mortgage.

    Given the recent budget it has brought my attention to mortgage interest relief.

    I was wondering could anyone explain this over the term of the mortgage. I understand what is is just looking for info on % over the lifetime of the 31 year term.

    Thanks


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    #2
    tHE vAGGABOND
    Registered Users Posts: 6,687 ✭✭✭tHE vAGGABOND


    If only there were places on the internet you could put in vague phrases and get back suggested websites based upon those phrases - that would be brilliant..

    I put mortgage interest relief into google and got back the revenue's own page on it as the first reply:

    http://www.revenue.ie/trs/mortgage/

    Check out that, and the other pages google will give you


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    #3
    niall_walsh
    Registered Users Posts: 112 ✭✭niall_walsh


    Think i hadn't tried already.

    Im refering to the percentage of mortgage interest relief over the duration of the term ie 25% year 1-5. What about the other 26 years.

    I appreciate the reply.


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    #4
    red dave
    Closed Accounts Posts: 845 ✭✭✭red dave


    AFAIK you're given mortgage relief 25% for 1-2 yrs and 21% for 2-7 yrs.

    After the 7 years to the end of the mortgage you have to cover 100% of it.


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