Or do I lose this by switching the mortgage?
No, you will continue to be eligible for MIR - Revenue does not consider it to be a new loan for the purposes of this relief.
OK thanks, I guess i will just reapply once I start paying my new mortgage.
MIR started back in 2003
I after many years of saving finally bought my first home in February 2014. Because I did not purchase the house before the 31st of December 2014 I was liable to pay the property tax. If you remember there was an ease on property tax for buyers that bought at this time – I believe this was due to us not be able to avail of the mortgage relief.
My question is what about the people that bought post the 31st of December 2012. We get no relief at all.
For a mortgage taken out between 1 January 2004 and 31 December 2012, your entitlement to relief will continue until the end of 2020.
Mortgages taken out after 31 December 2012 do not qualify for mortgage interest relief and as I said above because I bought in 2014 I also lose out on the exception of property tax.
their seems to be a gap here or am I wrong? In my opinion I feel like I am been discriminated for purchasing my house when I did. I know I did not buy in the boom, but I did buy and I have a crazy variable rate to pay each month.
Does anyone know if mortgage interest relief is transferrable on a negative equity movers mortgage ? Has anyone gone through this scenario recently and is it considered a brand new mortgage with loss of MIR ? Thanks.
Thanks SarencoYes, that's considered a new loan, secured on a different property. No MIR available.
I can't believe the government is still willing to pay me €40 a month for a further three years under this scheme. This was an FF election promise but as far as I can see there was no real public pressure to keep this going. There are a lot fewer houses in negative equity than say five years ago. The money could have been used elsewhere and the tax relief killed off once and for all.
Yes, that's considered a new loan, secured on a different property. No MIR available.
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