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Mortgage interest relief

Ryan T · 2011-02-07 19:57:09

Hi Looking for some advice about my mortgage interest relief. I bought the house in 2003 and lost the interest relief on it in Jan 2010 as the 7 years were up. In 2008 I changed my mortgage to an offset mortgage available from first active at the time. A new mortgage agreement was set up and had to use solicitor etc. to do…

07-02-2011 7:57pm

#1

Ryan T

Registered Users, Registered Users 2 Posts: 271 ✭✭

Join Date: December 2009

Posts: 241

Hi

Looking for some advice about my mortgage interest relief.
I bought the house in 2003 and lost the interest relief on it in Jan 2010 as the 7 years were up.
In 2008 I changed my mortgage to an offset mortgage available from first active at the time. A new mortgage agreement was set up and had to use solicitor etc. to do so. House had to be valued by auctioneer.
Would this qualify as a new mortgage - hoping to the relief back as things are extremely tight at the moment

Thanks

0

Comments

#2 07-02-2011 8:28pm

nompere

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Join Date: December 2006

Posts: 1647

From Revenue.ie -

Switching lender or mortgage type to achieve a better interest rate is not the same as taking out a new loan. However, a new mortgage where you move home and take out a mortgage with a new or existing lender is eligible for relief.

http://www.revenue.ie/en/tax/it/leaflets/tax-relief-source-mortgage-interest-relief.html#section5

I reckon you're out of luck.

0
#3 07-02-2011 8:33pm

Ryan T

Registered Users, Registered Users 2 Posts: 271 ✭✭

Join Date: December 2009

Posts: 241

Thanks for the info

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