Brian Cowen (Laois-Offaly, Fianna Fail)

As a result of this initiative for first-time buyers, a couple with a joint mortgage of up to €379,000 over 33 years, at an interest rate of 4.25%, will be able to claim interest relief on the full amount of the interest on their loan. Such a couple will now gain up to €1,600 extra per year, or €133 per month, in mortgage interest relief directly credited against their mortgage bill.

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