Your Money: The clock isticking on tax relief

Home loans taken out after next January 1 will not qualify for tax relief, but is this spurring people on to buy their first home, asks Emma Kennedy.

8th September, 2012
Buyers should put in their mortgage applications as soon as possible if they want to buy this year.

With property prices having dropped by up to 60 per cent since the peak, and mortgage interest relief extended until the end of the year, many first-time buyers appear to have decided that 2012 is the year to take the plunge. However, for many more, the ongoing economic uncertainty means that committing to a big debt remains an unappealing choice.

The latest figures from the Irish Banking Federation indicate that first-time buyers and those trading up still...

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