Mortgage Interest Relief Calculation

[Nikki N]

Hi there, just wondering how much the mortgage interest relief would be on a property worth €260k, with 2 first time buyers paying back the mortgage. How much interest relief could we hope to get per month? Would appreciate knowing how it's calculated if anyone knows! Thanks.

 

[plant43]

It depends how much interest is being paid back on the mortgage.

Calculate how much is being paid in interest using Karl Jeacles calculator http://www.jeacle.ie/mortgage/ . You get 20% of that in interest relief up to a maximum of €16000 per year.