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But homeowners are likely to be hit in the pocket with a cut or even abolition of MIRAS, Mortgage Interest Relief at Source.
Mortgage Interest Relief At Source (MIRAS) is 15 per cent, which would apply to all of the pounds 12,000.
This stands for Mortgage Interest Relief At Source. Although this has been reduced over the past few years, MIRAS presently gives you tax relief of 15 per cent on the first pounds 30,000 of your mortgage.

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