Mortgage Interest Relief


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Related to Mortgage Interest Relief: Mortgage Interest Relief At Source

Mortgage Interest Relief

A program in Ireland providing a tax benefit for a portion of the interest that one pays on a mortgage. One is able to reduce the amount of one's monthly mortgage payment to the bank by the amount of the benefit; the government reimburses the bank. The program is intended to promote home ownership.
References in periodicals archive ?
The government's decision to restrict BTL mortgage interest relief reflects a willingness to put investors and owner-occupied borrowers on a more level playing field, given that the latter cannot claim tax relief on their mortgages," observed Emily Rombeau, a Moody's analyst.
The proposal aims to aid Filipino families in acquiring their first family home by providing for a Home Mortgage Interest Relief which is an individual income tax incentive," said Loyola.
Miras, which stands for Mortgage Interest Relief at Source, was scrapped on April 5, 2000.
With effect from last Thursday, April 6, the Chancellor has withdrawn MIRAS tax relief - Mortgage Interest Relief At Source - which was available on the first pounds 30,000 of your loan.
Mortgage interest relief at source (MIRAS) to be cut from 10 per cent to five or scrapped, costing average families pounds 200 a year.
The first unified budget reduces mortgage interest relief to 15 per cent by 1995/96.
The decision to extend mortgage interest relief for owner occupiers to 2020 is a major boost for hard pressed families.
Faced with even more regulations, next month's right-to-rent checks and the removal of mortgage interest relief, along with an annual expense charge, 2016 already seems like a minefield of uncertainty for smallscale landlords.
The bank's mortgage interest relief was not paid in February leaving customers short - and some ending up overdrawn.
Under Labour, home ownership is becoming the privilege of the few, and the barrage of increased taxes such as stamp duty, council tax and the abolition of mortgage interest relief mean it is more difficult than ever for people to buy a home of their own.
These include the abolition of mortgage interest relief and the married couple's allowance.

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