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Mortgage tax relief

  • 22-04-2009 11:22pm
    #1
    Closed Accounts Posts: 441 ✭✭


    I have a mortgage for the last 8 years and am receiving mortgage tax relief, about a year and six months ago i remortgaged the house with a new bank so i paid off the old mortgage and recieved a completley new mortgage. With the new budget stating that mortgages over 7 years will lose their tax relief do i lose my tax relief or is it considered an 1 & 1/2 year mortgage and will i still receive my tax relief.:confused:


Comments

  • Closed Accounts Posts: 6,123 ✭✭✭stepbar


    Kieo wrote: »
    I have a mortgage for the last 8 years and am receiving mortgage tax relief, about a year and six months ago i remortgaged the house with a new bank so i paid off the old mortgage and recieved a completley new mortgage. With the new budget stating that mortgages over 7 years will lose their tax relief do i lose my tax relief or is it considered an 1 & 1/2 year mortgage and will i still receive my tax relief.:confused:

    This should be moved to the Banking forum. To answer your q, I would imagine that you won't get fresh TRS ( as in at the level you recieved at the start of your initial mortgage).


  • Registered Users, Registered Users 2 Posts: 8,800 ✭✭✭Senna


    Your TRS will end in May 2009, remortgaging does not count as a new mortgage. Only buying a new house or taking out larger amount for extending the property.


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