Niall Collins (Limerick, Fianna Fail)
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To ask the Minister for Finance if he will permit special mortgage relief for applicants who have contracts agreed and mortgage approval granted but will not be able to take possession of the dwelling until after 31 December 2012. [47457/12]

Michael Noonan (Limerick City, Fine Gael)
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The position is as I stated in my Budget day speech and on many occasions in this House that mortgage interest relief for principal private residences will no longer be available to house purchasers who purchase after the end of 2012 and will be fully abolished from 2018. This means that the qualifying loan will have to be drawn down on or before 31 December 2012 in order to qualify for this relief. I have no plans to review this decision. A qualifying loan for mortgage interest relief is one which without having been used for any other purpose, is used in the purchase, repair, development or improvement of a claimant’s principal private residence.