TRS on Mortgage

C

car28

Guest
Hi,

Myself and my boyfriend have bought an apartment together, are we entitled to the 2000.00 max relief each or can we just claim TRS for one person?
 
If you are both named on the mortgage and are owner occupiers of the property (based on this post I'm not sure that this is the case?) then you can both claim tax relief. I don't know what the €2K figure you mention is. The actual relief limits are summarised here:

[broken link removed]
 
Both our names are on the mortgage with and both of us are living in it.

So if we are paying 10,000 or more interest a year we are entitled to 333.33 relief a month?
 
No. Assuming that you are both in the first 7 years "FTB" preferential relief period of the mortgage then you are each entitled to relief at 20% on a maximum of €10K. But not on the same interest! For example if you are sharing the mortgage 50:50 and are paying €20K or more then you are entitled to €333.33 relief p.m. If you are paying less than that then you are entitled to relief on the actual amount. If you pay €10K then you are entitled to €166.67 relief p.m.
 
Thats great thanks for Clarifying our mortgage is for 190,000 over 25 years so think it will be just below the 10,000.00
 
Hi All,

Just wondering I went with and easy step mortgage for the first 3 years so when calculating the trs available do I base it on this figure or the full repayment amount. My mortgage is €240,000.00 over 35 years.

Any advise much appreciated............
 
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