Mortgage Interest Relief

B

Beenie

Guest

• 18 Jul 2008

• #1

When using 'mortgage calculators' on the bank's websites is this already built in to the repayment values since it is at source?

 

L

LDFerguson

Registered User

Messages

4,775

• 18 Jul 2008

• #2

As you don't specify a particular website, we can't answer with certainty.

Most online calculators that I've seen don't include tax relief. But I don't know which ones you've been looking at.

 

B

Beenie

Guest

• 18 Jul 2008

• #3

The ones for example on the website of BOI or AIB or any of the other major lenders

 

B

brokeagain

Registered User

Messages

231

• 18 Jul 2008

• #4

No they don't as everyone received different relief.

 

L

LDFerguson

Registered User

Messages

4,775

• 18 Jul 2008

• #5

Just had a look at the Bank of Ireland site and its calculator doesn't include tax relief.

If you want to check, go to Karl Jeacle's mortgage calculator and do the same quote. Karl Jeacle's one definitely doesn't include tax relief.

 

C

ClubMan

Registered User

Messages

52,096

• 18 Jul 2008

• #6

It's easy enough to calculate the relief manually and apply it to such "gross" repayment calculators.

 

R

rmelly

Guest

• 19 Jul 2008

• #7

None that I have seen does, and some explicitly say that it is the gross repayment. As already stated the amount of relief depends on a number of variables, so if the site hasn't requested this info then it can't calculate it.