First time property buyers won’t have access to a mortgage relief scheme next year.
Finance Minister Michael Noonan this morning confirmed that he will not be extending the higher mortgage interest relief advantage – announced in last year’s budget – beyond the end of the year.
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In the last budget, Michael Noonan introduced a 25 percent rate for first time buyers and 15 percent rate for non-first time buyers to cushion against further price drops.
But, speaking at a property seminar in Dublin this morning, Minister Noonan said signs of stability in the housing market made it clear the reliefs shouldn’t be maintained.
