Advertisement
If you have a new account but are having problems posting or verifying your account, please email us on hello@boards.ie for help. Thanks :)
Hello all! Please ensure that you are posting a new thread or question in the appropriate forum. The Feedback forum is overwhelmed with questions that are having to be moved elsewhere. If you need help to verify your account contact hello@boards.ie

Mortgage Interest Relief in event loan is cleared early????

Options
  • 06-12-2011 11:24pm
    #1
    banie01
    Registered Users Posts: 16,744 ✭✭✭✭


    Folks,
    1st off i hope this is the right forum :confused:
    As per the title, what happens to ones Mortgage Interest Relief allowance in the event that.
    1. The Mortgage is cleared early in the term? i.e by a life assurance policy?
    2. The mortgage holder stays in the house, doesn't resell and wishes to know what the remaining 6 years of the FTB Interest allowance are worth(if anything) especially now?
    Could the outstanding mortgage relief be set against an outstanding CAT liability and be netted off?
    Or is it actually gone?
    Considering that the relief is being phased out.

    I know its an odd question but it is pertinent to my situation and I am curious as to what happens with the outstanding allowance.

    Thanks in advance
    Banie


Comments

  • Options
    #2
    D3PO
    Registered Users Posts: 7,879 ✭✭✭D3PO


    the clue is in the name Mortgage Interest Relief

    No interest means no relief and it cannot be offset against anything else. the idea of it was to reduce the burden to mortgage holders. if you have no mortgage you have no need for the relief


  • Options
    #3
    banie01
    Registered Users Posts: 16,744 ✭✭✭✭banie01


    D3PO wrote: »
    the clue is in the name Mortgage Interest Relief

    No interest means no relief and it cannot be offset against anything else. the idea of it was to reduce the burden to mortgage holders. if you have no mortgage you have no need for the relief

    Thank you for the quick and clear reply :)
    Appreciated


  • Options
    #4
    D3PO
    Registered Users Posts: 7,879 ✭✭✭D3PO


    banie01 wrote: »
    Thank you for the quick and clear reply :)
    Appreciated

    No hassles. Your in good nick having no mortgage anyway so its not really bad news :p


Advertisement