Mortgage Interest Relief T&C

[davfran]

Havnt a clue. Can someone explain mortgage interest relief, how does one qualify? Is there a time frame? Thanks in advance

 

[ClubMan]

Have you tried the Revenue website (links below) and the many existing threads on this issue? Post details of your mortgage (e.g. single or joint buyer, FTB or not, start date, original amount, original term, rate etc.) and people can advise on your specific situation.

Tax Relief at Source (TRS)
TRS can be claimed in respect of qualifying loans secured on the deeds of your main residence i.e. a new mortgage, a top up loan, a home improvement loan, a re-mortgage or a consolidation of existing borrowings
See also:
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[davfran]

Thanks for the links ClubMan

 

[ClubMan]

So post your mortgage details and people can advise on what you should be entitled to.

Or are you only shopping around for a mortgage at the moment?
Or could you have outstanding relief which you need to backdate a claim for?

 

[davfran]

Outstanding relief, never claimed since i started living ere couple of yrs ago.

 

[ClubMan]

You can backdate claims for up to 4 years - i.e. back to 2004 right now.

 

[davfran]

Thanks clubMan, poss stupid question why did'nt my mortgage lender tell me bout mort int relief? What have they got to lose?

 

[ClubMan]

Strictly it's not up to the lender but I think that most will normally give you or point you to the TRS1 form. I have no idea why your lender might not have done this.

I am assuming that this is an owner occupier mortgage? If it's not then owner occupier mortgage interest relief does not apply.