Minister Noonan promised a problem at the Revenue Commissioners in applying beefed-up mortgage interest relief
will be sorted soon.
For anyone who is buying next year, a mortgage interest relief
of 25% will apply, while non-first-time buyers can benefit from a 15% relief rate.
And, say experts, abolishing the vital mortgage interest relief
spells disaster for the property market as a whole.
The best way to do this is by way of mortgage interest relief
This, he suggested, would be funded by phasing out Miras mortgage interest relief
It has now emerged that mortgage interest relief
will end tomorrow for all but first-time buyers.
Married couples' allowance and mortgage interest relief
had also been cut, he said, adding: "Gordon Brown has become the pickpocket Chancellor.
Struggling families were dealt further blows when he scrapped mortgage interest relief
after seven years and said the early childcare supplement will be axed in 2010.
The reduction in mortgage interest relief
hits hardest those who are least able to afford it, particularly in the less affluent parts of the country.
The taxman is cutting back on the level of mortgage interest relief
(MIRAS) that he gives to ALL home-buyers.
Families will also struggle with higher mortgage payments after the Government slashed mortgage interest relief
for non-first buyers from 20 per cent to 15 per cent.
He listed six major blows to families and homeowners, including new job- destroying taxes on businesses, higher taxes on petrol and a cut to mortgage interest relief
Guide dog allowance, widow(er) tax credit, seafarers credit, loan and mortgage interest relief
Homeowners already face rising costs from April 6 when mortgage interest relief
at source (MIRAS) is to be cut from 15 per cent to 10 per cent for the first pounds 30,000 of a loan, leaving borrowers with a mortgage of at least pounds 30,000, pounds 10.
They have campaigned for those in charge not only to increase the mortgage interest relief
from 20 per cent to 25 per cent, but also to expand the net to include non-first-time buyers.