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Mortgage Interest Relief

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  • 13-01-2011 10:29pm
    #1
    theirish
    Registered Users Posts: 26 ✭


    Hello all, I have a question and I hope someone out there knows the answer. Two years ago I bought a site, a year later I built a house on this site. One mortgage is a tracker and the other fixed. I am receiving interest relief on the site but not the house as I'm being told you can only get relief in one mortgage. Is this true? Any help or advice would be much appreciated.


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    #2
    Paulw
    Registered Users Posts: 13,381 ✭✭✭✭Paulw


    theirish wrote: »
    I am receiving interest relief on the site but not the house as I'm being told you can only get relief in one mortgage. Is this true?

    Yes, that is correct. You can only get tax relief on one mortgage. Further info should be available on revenue.ie.


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    #3
    theirish
    Registered Users Posts: 26 ✭theirish


    Cheers for the reply, I just wondered could they be amalgamated into one mortgage


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    #4
    phormium
    Registered Users Posts: 3,339 ✭✭✭phormium


    Not entirely true, you can get TRS on more than one mortgage account is they are for the same property and presuming you are not at the max amount on one mortgage.

    People often have main mortgage plus top ups and once all were for house they can be eligible for TRS. Check with revenue.


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