In 2019, mortgage interest relief for a non-first-time buyer who buys to live in is at what percentage?

• A. Zero percent
• B. 25%
• C. 15%
• D. 30%

Answer: (C)

Mortgage interest relief is a tax break that reduces the amount of tax you pay by allowing a portion of the interest you pay on your home loan to be offset against your tax bill. The rate isn’t the same for everyone; it depends on your situation—specifically whether you’re a first-time buyer and whether you’re buying to live in the property.

In 2019, for someone who has owned a home before (not a first-time buyer) and buys to live in the new home, the relief rate is 15%. That means 15% of the mortgage interest paid in the year can be claimed as relief. First-time buyers could access a higher rate, which is why 30% exists in the options, but it applies to the first-time buyer category, not to non-first-time buyers. The zero percent option would imply no relief, which doesn’t apply here, and 25% isn’t the applicable rate for this category.

So the 15% figure reflects the rate for a non-first-time buyer purchasing to live in the home in 2019.