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Interest Relief to benefit 270,000 homeowners

Posted on Thursday, February 09, 2012 by Julie Blake

At least 270,000 homeowners are set to see their mortgage interest payments fall.

Finance Minister Michael Noonan suggested that prices in the property market could be bottoming out as he unveiled incentives for first-time buyers.

First-time buyers who bought during the boom and those who buy homes this year will benefit.

Mortgage interest relief will be raised to 30% for first-time buyers who purchased between 2004 and 2008. This is expected to benefit 270,000 purchasers.

First-time buyers who make the leap this year will still be entitled to 25% in mortgage interest relief, with an extension of that measure.

Read the full story in the Irish Examiner ...