Mortgage interest relief will not be extended, insists Noonan

November 5, 2012 The MyHome Newsdesk by The MyHome Newsdesk
Mortgage interest relief will not be extended, insists Noonan

Finance Minister Michael Noonan has rejected calls from his government colleagues to extend the mortgage interest relief deadline beyond the end of this year.

There had been calls from Fine Gael and Labour Party TDs to extend the scheme even for a few months after a noticeable upsurge in property activity since the summer.

At present first-time buyers receive mortgage interest relief at 25% with non first time buyers receiving it at 15%. In total, couples could save up to €27,500 when buying their first home because of the incentive.

However, speaking to The Sunday Independent at the weekend, Minister Noonan said he would not be extending the scheme beyond December 31st.

Advertisement

He said: “It was one year, that encouraged a lot of people to buy houses and they are still doing so.”

He added: “I am confirming there will be no extension to the mortgage interest scheme.”

Tags:
Uncategorized activity colleagues deadline Finance Minister Fine Gael

Related articles

Woman using mortgage calculator

Mortgage calculator

Ready to start house hunting but need to know how much you'll be paying on your mortgage? Our Irish mortgage repayments calculator will get you the answers you're looking for.

Start now →

Powered by doddl logo