Real Estate Alliance

Tax Relief When Buying

When you buy a house, you should inform your local Revenue Commissioners Office so that they will send all correspondence to your new address. You can claim tax relief on your mortgage for property in the republic of Ireland provided that it is your main residence. This tax relief is granted at source and as such your mortgage provider will give you the benefit of the tax relief on the mortgage interest on behalf of the Revenue Commissioners. In essence, your mortgage repayment is reduced by the amount of the tax relief. Your mortgage lender then claims this amount back from the Revenue. If you are taking out a new mortgage you must complete a TRS1 form which is available from your lender.