John Gerard Hanafin (Fianna Fail)

The Government is also committed to supporting first-time buyers through a range of targeted measures. We have increased the annual ceiling on the amount of mortgage interest relief available to first-time buyers by more than 25% and the period in which mortgage interest relief is available from five years to seven years. We have introduced reduced stamp duty rates for first-time buyers and a higher stamp duty exemption limit for first-time buyers. We introduced the rent a room scheme, which can also help first-time buyers by allowing them to rent a room or rooms in their home and earn up to €7,620 per annum tax-free.