Fine Gael Limerick TD, Patrick O’Donovan, has said that the mortgage interest relief scheme, introduced by the Government last year, provided a welcome boost for home buyers. Figures obtained by Deputy O’Donovan in a Parliamentary Question to the Minister for Finance, Michael Noonan TD, show that there was a sharp uptake in the scheme in the second half of the year.
“These figures issued by the Department of Finance, show that the number of people applying for mortgage interest relief almost tripled in December, compared to the beginning of the year. The scheme was designed to encourage first time buyers to enter the housing market; it clearly had the desired effect.
“More than 7,000 buyers benefitted from mortgage interest relief last year; with more than 1,000 people applying for the scheme in both November and December.
“A functioning property market is a key component of any healthy economy. This Government has no intention of engaging in the inflationary tactics employed by Fianna Fáil, which led to the property bubble. However, short term measures like the mortgage interest relief scheme will help to give those in a position to buy, the confidence to do so.”