Mortgage Interest Relief at Source MIRAS UK Mortgage definition

UK Mortgage definition

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Mortgage Interest Relief at Source ( MIRAS )

A tax relief scheme introduced in 1983 which gave tax relief on interest paid to lenders was called Mortgage Interest Relief at Source. Qualifying borrowers paid interest net of tax relief to the lender, and the Inland Revenue paid the relief due on the loan to the lender. MIRAS was withdrawn in April 2000.
THINK CAREFULLY BEFORE SECURING OTHER DEBTS AGAINST YOUR HOME. YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON YOUR MORTGAGE.
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Think carefully before securing other debts against your home. Your home may be repossessed if you do not keep up repayments on your mortgage.

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