Mortgage Interest Relief – Operation of Relief at Source
Revenue have published a notice advising mortgage holders that from January 2014 lenders will be obliged to grant relief at source based on the amount of interest actually paid within a tax year. According to the Revenue notice many lenders calculate relief based on the amount of interest charged to a mortgage account irrespective of whether that interest was paid by the borrower or not. The full text of the notice is published on the Revenue website.