mortgage interest relief at source

Definition

noun

a scheme by which the borrower may repay interest on a mortgage less the standard rate tax which he or she would otherwise have to pay on it, i.e. he or she does not pay the full interest and then reclaim the tax.

AbbreviationMIRAS

mortgage interest relief at source

Definition

Recommended Articles from InvestorGuide.com

Related Videos

Nearby Terms

Popular 'Banking' Terms

Resources

Company