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Query on mortgage interest supplement

  • 30-03-2012 11:17AM
    #1
    sunflower27
    Closed Accounts Posts: 4,822 ✭✭✭


    Hi everyone

    I am due to finish a jobbridge internship in 2 months. After that I think I have 2 months on JSB and then will have to apply for JSA - in the event of not securing employment.

    I don't have any great savings and I have gone interest-only on my mortgage (which comes to a total of €700/month). My current tenant is moving overseas at the end of April so I will have to try and get someone in, although that may prove difficult for a while.

    Can anyone tell me if I would qualify for MIS? And also the procedure I need to follow to be means tested for JSA.

    Many thanks.


Comments

  • #2
    sunflower27
    Closed Accounts Posts: 4,822 ✭✭✭sunflower27


    Anyone?


  • #3
    marlie2005
    Registered Users, Registered Users 2 Posts: 174 ✭✭marlie2005


    As far as i know Mortgage Interest Supplement is only paid to your private resisdence. You won't get it if you are renting your house out. Are you just renting a room or the whole house ?


  • #4
    sunflower27
    Closed Accounts Posts: 4,822 ✭✭✭sunflower27


    marlie2005 wrote: »
    As far as i know Mortgage Interest Supplement is only paid to your private resisdence. You won't get it if you are renting your house out. Are you just renting a room or the whole house ?

    Hi Marlie and thanks for your reply

    I am renting a room in my house, but the tenant is moving out at the end of the month. If I don't get anyone in asap I cannot afford the interest-only part of my mortgage.


  • #5
    Stheno
    Moderators, Business & Finance Moderators, Science, Health & Environment Moderators, Society & Culture Moderators Posts: 51,685 Mod ✭✭✭✭Stheno


    You should be covered for MIS, thought the rent from your tenant may be considered.


  • #6
    sunflower27
    Closed Accounts Posts: 4,822 ✭✭✭sunflower27


    Stheno wrote: »
    You should be covered for MIS, thought the rent from your tenant may be considered.

    Thanks :)

    Do you know how they work the rate out? I won't have a tenant after the end of April and it will probably take me a while to get one.


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  • #7
    sunflower27
    Closed Accounts Posts: 4,822 ✭✭✭sunflower27


    Hi all, I am meeting with a guy in my local social welfare office tomorrow about getting MIS. I explained my circumstances to him and he said I should have no problem qualifying.

    Can anyone give me an idea of how much I can expect to receive if my interest per month on my mortgage is €700.

    I was told I have to take forms to my bank and get them to fill out.

    How is payment then received?

    Thanks in advance.


  • #8
    cee_jay
    Registered Users, Registered Users 2 Posts: 7,978 ✭✭✭cee_jay


    How to calculate MIS is here:
    http://www.citizensinformation.ie/en/social_welfare/social_welfare_payments/supplementary_welfare_schemes/calculating_mortgage_interest_supplement.html


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