Mortgage Interest relief calculation

[Doc]

Hi- I'm trying to work out the amount of interest relief I will be entitled to this year.

My current mortgage (principle 335K) will move from a discounted 1 year rate of 2.35% to 4.35% this month so trying to work out the actual increase (allowing for increase in relief given the higher interest rate). Any ideas as I've tried to work back to my current interest relief to no avail...

 

[Trent]

Interest on €335k at 4.35% is approximately €14,500 per annum. If you're on your own in the mortgage, then you're entitled to relief at 20% on the first €8,000 of this (ie: €1,600 to you). If you're in it with a partner, then you're entitled to relief on up to €16,000 (only €14,500 in your case, so that's c.€2,900) to you.

 

[Doc]

thanks trent