Personal Finance

Mortgage interest tax relief addresses sharp rise in rates

Homeowners who benefit are sure to welcome the initiative, but some will be disappointed that the relief will only be available for a limited time

The relief is framed as a measure to offset the financial burden on households. Picture: Getty

In last Tuesday’s budget, we saw the reintroduction of a temporary and targeted mortgage interest tax relief. In the lead-up to the budget, it had seemed very likely that the government would provide some form of support to mortgage holders who have been negatively impacted by the successive interest rate increases imposed by the European Central Bank (ECB).

Those homeowners who will benefit from the relief will welcome the announcement, but many will be disappointed ...