Noonan halts mortgage relief scheme at end of year28/06/2012 - 12:04:32
First time property buyers will not 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.
In the last budget, Michael Noonan introduced a 25% rate for first time buyers and 15% rate for non-first time buyers to cushion against further price drops.
However, speaking at a property seminar in Dublin this morning, Minister Noonan said signs of stability in the housing market made it clear the reliefs should not be maintained.
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