Both myself and my partner got married recently.
We both own our own houses and have moved into one of them and intend renting the other one out.
Does that mean we will loose the Mortgage Interest Relief on the house we are renting out. Even if that relief is greater that the relief we get on the house we will live in i.e. as the loan is smaller on the house that we will live in compared to the one we will rent out.
A qualifying loan for the purpose of mortgage TRS is a secured loan, used to purchase, repair, develop or improve your sole or main residence, situated in the State. You can claim mortgage tax relief in respect of the interest charged/paid on your main residence.
Samsoon,
FYI, Stamp duty clawback is not proportional. It is all or nothing.
So, it does not mattter if you have owned the property for 1month or 4 years 11 months = same amount is due as long as you have owned it for less than 5 years.