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Mortgage Interest Support

  • 14-06-2012 6:50pm
    #1
    rsole1
    Registered Users, Registered Users 2 Posts: 601 ✭✭✭


    Can anyone tell me what percentage of a mortgage is interest for the purposes of claiming Mortgage Interest Supplement. My mortgage is currently only €430 per month with 7 years gone on a 20 year term. Also do you get MIS straight away when you claim unemployment assistance.

    Thanks for your help guys.


Comments

  • #2
    upinthesky
    Registered Users, Registered Users 2 Posts: 1,407 ✭✭✭upinthesky


    don't think you will get because your mortgage isn't that high

    i pay 500 a month for my council house!! and thats rent


  • #3
    rsole1
    Registered Users, Registered Users 2 Posts: 601 ✭✭✭rsole1


    lisar816 wrote: »
    don't think you will get because your mortgage isn't that high

    i pay 500 a month for my council house!! and thats ren
    Yes but you get 70% rent allowance ?


  • #4
    upinthesky
    Registered Users, Registered Users 2 Posts: 1,407 ✭✭✭upinthesky


    rsole1 wrote: »
    Yes but you get 70% rent allowance ?
    im renting a council house you cant get allowance for renting a council house
    it is cheaper then renting private i suppose but it is not cheap to rent a council house like everyone thinks


  • #5
    username123
    Closed Accounts Posts: 7,484 ✭✭✭username123


    lisar816 wrote: »
    im renting a council house you cant get allowance for renting a council house
    it is cheaper then renting private i suppose but it is not cheap to rent a council house like everyone thinks

    Yes but its means tested isnt it? If you have a dramatic drop in earnings your rent will be adjusted to reflect that? Plus the council are a great landlord in my experience! Anything goes wrong, fixed double quick.

    Back to the original query, the mortgage interest supplement pays the interest on the mortgage - you still pay the capital, so the percentage is whatever percentage is interest - usually in the early days most of the repayment is interest, but the further you get into it its less.

    You have to apply for it, it doesnt happen automatically.


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