mortgage interest relief questions

[minstrel_boy]

Hi All,
Can any of you help with a few mortgage questions for a beginner:
A question with BOI online mortgage calculator - Does the monthly repayment figure that they quote include mortgage interest relief?
On a salary of 40K for a first time buyer, what would be the typical monthly mortgage interest relief?
Do you lose mortgage interest relief if you rent out a room?
Thanks for any info

 

[z101]

The rent a room scheme has nothing to do with your relief. You should call BOI customer service about your other question.

 

[mathepac]

Mortgage interest relief (TRS, tax relief at source) has nothing got to do with salary, per se.

Your monthly mortgage repayment includes interest and capital. TRS is allowable to first-time buyers on the interest portion of the repayment, on a reducing percentage, for up to a maximum of 7 years.

An impartial mortgage / financial advisor can take you through the specifics of your circumstances.

 

[minstrel_boy]

thanks for the replies. I will contact the banks with regard to whether mortgage interest relief is included in thier calculator