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About to buy new house - mortgage interest relief

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Comments

  • Registered Users Posts: 1,443 ✭✭✭killers1


    cgarrad wrote: »
    Rent for a year, get 25% off the price of the house not 25% interest relief :rolleyes:

    Quite possibly. But the people looking for answers on this thread are the ones who have signed contracts or are ready to close...


  • Registered Users Posts: 1,003 ✭✭✭Treehouse72


    The amount you save in taxes one way or the other will in all likelihood pale into insignificance beside the drop in value your new house is likely to suffer in the next year or two.

    In my opinion (and in the opinion of just about everyone from the ESRI to the Central Bank to the Troika).


  • Hosted Moderators Posts: 23,036 ✭✭✭✭beertons


    I emailed them for their answer, to my question, and this is the reply I got.

    In reply to your email TRS applies from when interest accrues on your loan and not when you sign the contract.
    The 25% rate is available in 2011 and would apply to 2011 and 2012.
    If 2012 is your first year the 25% rate would apply to 2012 and 2013.

    So we're waiting till January to sign for the house


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