Interest Relief

[jumper1]

Hi i have 3 questions re Investment property

(a) What is the max mortgage intrest you can claim against an investment property. e.g if i was paying 12,000 Euro intrest on my mortgage a year.

(b) Can you claim maintenance charges on property against mortgage intrest..

(b) Are there any tracker Mortgages available for investment property

(c) Lets say i have lived in PPR for a full 6 years, Property 1 . If i was to buy another property at start of year seven and move into it , property 2 is now my PPR. After 3 full years i decided to sell property 1(after renting it for 3 full years ) . So i had property 1 for 10 full years , what CGT would i pay.

Thanks a million for any replies .

Regards, Jumper1

 

[ClubMan]

(a) What is the max mortgage intrest you can claim against an investment property. e.g if i was paying 12,000 Euro intrest on my mortgage a year.

With an investment property 100% of interest on any loan used to purchase or renovate the property can be set against rental income when calculating rental income tax liabilities.

(b) Can you claim maintenance charges on property against mortgage intrest..

I presume you mean can you set such expenses against rental income - and not against mortgage interest since that does not make any sense - in which case the answer is most likely yes depending on the precise nature of the expenses (e.g. pre letting expenses are not allowed). Check the Property Investment FAQ at the top of this forum for more on the tax treatment of investment properties.

(b) Are there any tracker Mortgages available for investment property

I think that there are but I can't name any providers offhand.

(c) Lets say i have lived in PPR for a full 6 years, Property 1 . If i was to buy another property at start of year seven and move into it , property 2 is now my PPR. After 3 full years i decided to sell property 1(after renting it for 3 full years ) . So i had property 1 for 10 full years , what CGT would i pay.

Your CGT would be calculated on (10 - (6 + 1)) / 10 = 3/10 = 30% of any resale gain (less the usual allowances etc.).