Mortgage interest relief

[zxcvbnm]

I tought I read on a revenue link before that the maximum interest relief a non-first time buyer could receive is 15% of 3000 in a year.
i.e. €450 per year or circa €35 a month !

DOes that sound right to people?

Firstly i would have thought that the amount you receive is related to the size of the mortgage you owe ?
Secondy i would have thopught it would have been more than €35 a month !!

Can anyone confirm ?

 

[WaterSprite]

I tought I read on a revenue link before that the maximum interest relief a non-first time buyer could receive is 15% of 3000 in a year.
i.e. €450 per year or circa €35 a month !

DOes that sound right to people?

Firstly i would have thought that the amount you receive is related to the size of the mortgage you owe ?
Secondy i would have thopught it would have been more than €35 a month !!

Can anyone confirm ?

Yes, TRS for non first-time-buyers is 15% of up to €3,000 (interest) per annum for owner occupiers. So, if you pay €3k or more in interest payments, you get €450 per annum in relief.

Sprite