Rental mortgage tax relief

[Stuart1]

Sorry if this has been clarified already - the search won't work for me.


I am considering buying an investment property and would like to know how much mortgage interest I can offset against rental income.

The kind of figures I am looking at are roughly a mortgage of €300,000 over 25 years costing €1,750 a month (€1,250 interest, €500 principle).

If my rental income is only €1,000 a month can I claim all my mortgage interest thereby not having any taxable profit?

Should I get an interest only mortgage and pay off my home mortgage instead so as to continue to keep my mortgage interest above my rental income?

Thanks for your help.

 

[ClubMan]

I am considering buying an investment property and would like to know how much mortgage interest I can offset against rental income.

All of it.

The kind of figures I am looking at are roughly a mortgage of €300,000 over 25 years costing €1,750 a month (€1,250 interest, €500 principle).

If my rental income is only €1,000 a month can I claim all my mortgage interest thereby not having any taxable profit?

Yes - as far as I can see but get independent, professional advice to be sure.

Should I get an interest only mortgage and pay off my home mortgage instead so as to continue to keep my mortgage interest above my rental income?

See this thread:

Interest only mortgage

 

[Howitzer]

But only if you're registered with the PRTB.

[broken link removed]