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Mortgage Interest Relief when house is rented

  • 19-10-2010 5:23pm
    #1
    kieran75
    Registered Users, Registered Users 2 Posts: 40 ✭


    Hi,

    If i rent my house to a tenant do i have to cancel the mortgage interest relief i receive.

    Someone has told me that i must tell my mortgage bank to stop paying me this relief money if i start renting my house.

    Thanks for all feedback...


Comments

  • #2
    3DataModem
    Registered Users, Registered Users 2 Posts: 4,077 ✭✭✭3DataModem


    kieran75 wrote: »
    If i rent my house to a tenant do i have to cancel the mortgage interest relief i receive.

    Yes.
    kieran75 wrote: »
    Someone has told me that i must tell my mortgage bank to stop paying me this relief money if i start renting my house.

    No, you tell the Revenue Commissioners that you are no longer claiming MIRAS.

    (Don't even bother telling them why if you don't want to. Just tell them you are no longer claiming. They update their system which the banks are plugged into, and the bank magically stops applying MIRAS to your mortgage.)

    I would suggest you then register with PRTB and start keeping receipts and interest statements for your tax return.


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