What a difference a day makes! Yesterday, MyHome.ie reported on how First time buyers were set to lose out on over €30K if they purchase a property after June of this year when mortgage interest relief (MIR) for people buying their first home was to be abolished. However, in the news today it is reported that it is now unlikely that mortgage interest relief for first-time buyers will be abolished in June as proposed in the Programme for Government.
MyHome.ie has welcomed the news that the Government is to defer the scrapping of mortgage interest relief for first time house buyers until the end of the year. The Managing Director of MyHome.ie Angela Keegan had highlighted the impact of the June deadline on first time buyers and the property sector in a Sunday newspaper article. ‘We are delighted that the Government has seemingly decided to defer implementing these changes as it will allow first time buyers the chance to weigh up their options in a realistic timeframe as well as removing uncertainty from the property market’ Keegan said.