This might be 1 promise that you will be happy politicians don't fullfil - Mortgage Interest Relief for 1st time buyers is on its way out but looks like it will be here until the end of 2011 rather than end of June.

It is now unlikely that mortgage interest relief for first-time buyers will be abolished in June as proposed in the Programme for Government.

The Programme for Government included a plan to scrap mortgage interest relief for first time buyers from June and target the money towards those who bought at the height of the boom.

Any changes to mortgage interest relief would have to be introduced in a Finance Bill and while the government is planning a jobs mini-budget after its first 100 days, it's understood this proposal will be pushed out until the end of the year.

The property industry has welcomed the move which they hope will encourage buyers to take the plunge

- RTE News

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Comment by William, Tipperary
Hi

Closing on site purchase this month. Planning in place and hope to start build in July/August. Where will I stand on Mortgage interest relief? Will have some of mortgage drawn down but not all by end of year. Thanks for any information.
Date: Sunday April 03 2011

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