Mortgage interest relief

F

falabo

Registered User
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37
hi all hope you can give me a guideline on this, here is the situation. I am buying an apartment with a friend at 197,500. we both are first time buyers.
Are we entitled to mortgage interest relief or only one of us? the bank didn't give us much explanation about this. Will it come into the joint account seperatly or will the mortgage repayment be reduced?
Thanks very much.
Falabo.
 
You will both be entitled to it.

The banks operate differently, some reduce the repayment while others credit it to the account, so you will have to ask whichever bank is giving you the mortgage.
 
Hi
Relief is available to both of you subject to certain limits.There are calculators on various sites on the web and you should check them out.
 
I stilll stand by what I said , one point I have 3 places and will buy a 4th before year is out, the math just makes sence, this is ireland and the wave is still flowing. these sites are helping and I continue to learn from them, I am going to buy another house price before stamp duty is 348K I expect in 5 yrs the same house to be 500K or more that is why I am where I am, I am not a college buff just a normal guy
 
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