Difference between Married & Cohabitating Re: mortgage interest relief

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ypower

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Difference between Married & Cohabitating Re: mortgage interest relief

Just wondering if there is a difference in the amount of relief for a married couple as oppose to a couple living together with a mortgage. I have a house with my girlfriend and would like to know if we get the same mortgage interest relief as a married couple ie. is it €16,000 for two of us or just €8000 between us
 
No difference - for a couple (married or otherwise) who are both FTB there is tax relief on the first €16,000 of mortgage interest.

Sarah

www.rea.ie
 
There is no difference.

FTB single allowance-€8,000 (EACH)
FTB married allowance-€16,000

Non-FTB allowance-single-€3,000 (EACH)
Non-FTB allowance-married-€6,000
 
My son bought a house in 2003. It is in his sole name he pays the mortgage. When he moved in his partner also moved in. He gets single person mortgage interest relief. Can he include his partner now? Can it be backdated? Who does he tell? Is he losing out.
 
He is not losing out. I would say that the mortgage would have to be in joint names for 2 people to claim, but I can't be sure.
 
CCOVICH said:
He is not losing out. I would say that the mortgage would have to be in joint names for 2 people to claim, but I can't be sure.
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exactly:

They can claim her benefits once He gives her 1/2 the house :eek:) simply as that.
 
Thanks Ccovich and Paddyd. So just to get it right,I assume he now goes to his solicitor and get both names on the deeds and then notify the bank who will take care of proper mortgage relief for a couple? Or I must check -do the bank hold the deeds as security for the mortgage). Have tried to get him to tie the knot (they have one child now) but he doesn't believe in marriage and says he will never marry.
 
oldtimer said:
Thanks Ccovich and Paddyd. So just to get it right,I assume he now goes to his solicitor and get both names on the deeds and then notify the bank who will take care of proper mortgage relief for a couple? Or I must check -do the bank hold the deeds as security for the mortgage). Have tried to get him to tie the knot (they have one child now) but he doesn't believe in marriage and says he will never marry.
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if they have one child, then she qualifies for 1/2 the house anyway (if not ALL of it!). Under the Family Home Act, she would have a say in the future of the house anyway, such as signing any documents allowing the house to be sold, or for any equity to be released , as it affects her and the child, no matter what happens to the house. All forms ask if there are any dependants in the house.

Being married actually makes little difference to 'Family' law, other than the tax implications (which is what you after in this case).
not meaning to be morbid!, but were they to break up, the mother and child would never be evicted.

They won't qualify for any of the married tax breaks (such as double Interest Refief on the Mortgage interest) until they marry. Hence, in some cases, couples are discriminated against for not being married :eek:

It suits the state better that they were married, as the laws define/protect the married couple better than Common Law Partner laws, which can be messy in the event of break-ups, inheritance, next-of-kin issues or injury/disability
 
Its a bit more complicated than that.
If he gives her half the house, she will have to pay gift tax on the value.
There is no law which says that a couple with a child ( married or unmarried) on separation, that the house is split 50/50. This may be practice in some cases but it definitely not automatic,

In short, if your sons partner is living with him and does not own a part of the house, he can only claim his mortgage interest releif, as he solely owns the house.
 
Hi just a quick questions as our mortgage kicked in on the first of this month and I'm filling out the Mortgage Tax Relief form, wondering, if myself and the other half, not married, bought the apartment together do we fill out one form or two?
Thanks
 
Anyone know when the increased mortgage interest relief kicks in? I though it was this month but it wasn't.
 
were cohabiting FTBs just applied online a few weeks ago for TRS.

I saw above where you said both apply for 50% or something, im confused and hopefully you can clear it up?

on page 2 of both of our online forms:

[broken link removed]

we both put 100% as 100% of the mortgage is being used on the house. Is this not correct?
 
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