Budget 2012- Commitment to Mortgate Interest Relief Increase Welcomed

Kildare North TD, Anthony Lawlor, welcomes the announcement by Minister for Finance Michael Noonan that Mortgage Interest Relief for First Time Buyers, who bought during 2004-2008, will increase to 30%.

“The difficulties confronted by many homeowners with regard to negative equity and mortgage arrears was raised constantly on the doorsteps during the General Election and ever since. Therefore Fine Gael in Government have been determined to address this problem by directly helping those affected. This increase in Mortgage Interest Relief from the current sliding scale of 20%-25% to 30% will benefit all mortgage holders who bought during this time.

“I am delighted that the Government has fulfilled this commitment outlined in the Programme for Government. This measure will be felt in the pockets of mortgage holders and indicates the Government’s intention to deal with the mortgage crisis in a practical manner” concluded Anthony Lawlor TD.