Mortgage interest relief for first time buyers has been extended for home purchases until 31/12/2012. If you buy before the expiry date you will get relief until 2017 starting at 25% of interest paid subject to an upper limit of €10,000 interest for an individual and €20,000 for a couple. If you reach the interest limit the net credit against your mortgage payments will be €2,500 for a single person and €5,000 for a married couple.
The Government has also increased the allowable relief rate to 30% for first trime buyers who bought during (2004 to 2008)
For more infromation please follow the following link to Revenue website /tax-relief-source-mortgage-rates.html 08/12/2011
Some more good news today is a further drop in the ECB base by 1/4 % to 1%.Tracker mortgage holders will automatically receive the reduction but it remains to be seen how the banks will react when it come to variable rate holders.
Existing homeowners should check that they are not overpaying on life insurance/Mortgage protection.These rates have reduced in recent years and we find many mortgage holders are uncertain what level of cover they have and what they might need.To obtain the cheapest mortgage protection quotes currently available in Ireland please cklick below,
