Interest relief property investment

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lopin10

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Re: Interest relief property investment
This is the situation when i purchased my investment properties i had a mortgage of €750,000 with equity release my new mortgage will be €980,000 how much of the new mortgage interest can i write off against tax. I did not get a new property in this deal its a straight remortgage however with the money released i am going to buy property in UK
 
If you are spending €980K - €750K = €230K on the investment property then you can offset 100% of interest on the €230K against rental income from the investment property purchased. Obviously you cannot claim owner occupier mortgage interest relief on the same amount - just on the original €750K up to the usual TRS limits.
 
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