Mortgage interest relief, PRTB, and the dole

[theblonde]

Hi there.

I bought my two bed apartment in March 07. I am moving into my boyfriends house at the end of February and I intend renting it out. I have some questions in relation to this and I would be very grateful if I could get some answers.

1. When I register with the PRTB do I automatically lose my mortgage interest relief as its no longer my residence? It’s currently about €200 a month.

2. My current employment is very unstable at the moment. I have been looking for a new job, but to no avail. If I do need to sign on, will the income I get from the rent be taken into consideration even if it just covers the mortgage repayments? Also, will my boyfriends income be assessed as I will be living with him before I qualify for the dole?

Thanks a million

 

[Graham_07]

1. TRS only applies to your Principal Private Residence. Once the property converts to an investment property you must cease claiming TRS. However the interest paid may then be an allowable deduction against the rental income, along with PRTB fees etc.

2. I'm not sure about benefit payments like jobseekers benefit but other incomes may be relevant on any means tested social assistance payments. You should check out the citizens information webside where there is a lot of information on this.