FG to extend mortgage-interest relief if elected
Fine Gael has said it will increase mortgage-interest relief for what it described as the "negative equity generation", if elected to Government.
The party's finance spokesperson Michael Noonan said the additonal relief could be worth up to €166 per month to mortgage-holders on a €300,000 mortgage.
"We're looking in particular at mortgagees who bought their houses between 2004 and 2008," he said.
"That was the peak of the madness in this country, and people were induced and pushed to buy homes."
The party, which launched its banking strategy today, also says it will force state-backed institutions to cut costs to reduce variable rates.
Fine Gael says it will shut down Anglo Irish Bank and Irish Nationwide by the end of the year and will support the sale of AIB and EBS.
In Government, the party says it will ensure fraudulent bankers are pursued for their crimes to ensure they face the law.
Fine Gael's finance spokesperson Michael Noonan said assisting people who were "induced and pushed into buying homes at exorbitant prices" was a priority.
