Deering welcomes announcement that all 1st time buyers in 2008 are eligible for mortgage interest relief.

8th February, 2012

Carlow Fine Gael TD, Pat Deering, has welcomed the announcement by the Minister for Finance, Michael Noonan, that the Finance Bill provides that all first time buyers who bought in 2008 will be entitled to mortgage interest relief, even if they did not start paying interest on their loan until 2009.

“I had asked Minister Noonan to look at this provision in the Finance Bill as a number of people had brought to my attention that, while they purchased their home in 2008, they did not have to pay interest on the loan until the following year.

“Today’s Finance Bill states that mortgage holders will qualify for the increased rate of relief if they made their first mortgage interest payment, or drew down their mortgage in the period between 2004 and 2008.

“I am delighted that this issue has been addressed and that a lot of worried people can now rest easy, knowing that they will receive the increased mortgage interest relief of 30 per cent. I would also like to thank Minister Noonan for including this in the Finance Bill today and for clarifying the issue once and for all”