Éamon Ó Cuív (Galway West, Fianna Fail)
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To ask the Minister for Finance the number of persons who are in receipt of mortgage tax relief at present for loans taken out in or after 2004; and if he will make a statement on the matter. [49180/12]

Éamon Ó Cuív (Galway West, Fianna Fail)
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To ask the Minister for Finance the total cost of mortgage tax relief in 2012 for loans taken out in or after 2004; and if he will make a statement on the matter. [49181/12]

Éamon Ó Cuív (Galway West, Fianna Fail)
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To ask the Minister for Finance the cost in tax forgone of increasing mortgage interest relief for all loans taken out in or after 2004 by 1%; and if he will make a statement on the matter. [49183/12]

Michael Noonan (Limerick City, Fine Gael)
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I propose to take Questions Nos. 98, 99 and 101 together.

It is estimated that the total number of mortgage interest relief claimants in 2011, the latest year for which information is readily available, is about 488,000, of which some 266,000 are estimated to be first-time buyers. The total cost of mortgage interest relief in 2011 is estimated at €357 million. Given the current structure of mortgage interest relief, in that relief is available at varying rates and subject to certain ceilings, in respect of interest paid by first-time buyers and non-first-time buyers, on a loan used by that individual for the purchase, repair, development or improvement of his/her sole or main residence, it is not possible to calculate the cost of tax forgone of increasing mortgage interest relief for all loans taken out in or after 2004 by 1 percentage point in the time allowed.

However, the tax forgone cost of increasing mortgage interest relief by 1 percentage point has been calculated in relation to first-time buyers who took out qualifying loans in the period 2004 to 2008 for whom the rate of tax relief was increased in Budget 2012. The Revenue Commissioners tentatively estimate that the number of first-time buyers who qualified for this relief to be in the order of 214,000. The cost to the exchequer of that measure is estimated at €52 million in a full year. The estimated cost to the exchequer of increasing the rate of mortgage interest relief by 1 percentage point for those first-time buyers is of the order of €11 million in a full year. These figures are provisional and subject to revision.

Éamon Ó Cuív (Galway West, Fianna Fail)
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To ask the Minister for Finance the years that mortgage tax relief will cease for persons who took out loans in each of the years 2004, 2005,2006, 2007, 2008, 2009 and 2010; and if he will make a statement on the matter. [49182/12]

Michael Noonan (Limerick City, Fine Gael)
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In Finance Act 2010, mortgage interest relief was extended up to end of 2017 for those whose entitlement to relief was due to end in 2010 or after (i.e. those whose purchased in 2004 or after). Therefore, tax relief will continue to be available for all tax years up to and including the 2017 tax year in respect of interest paid on qualifying home loans taken out on or after 1 January 2004 and on or before 31 December 2012.

Patrick O'Donovan (Limerick, Fine Gael)
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To ask the Minister for Finance his plans for a person (details supplied) in County Wexford who can only avail of mortgage interest relief on part of their overall mortgage; and if he will make a statement on the matter. [49211/12]

Michael Noonan (Limerick City, Fine Gael)
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This is a matter for the Revenue Commissioners who are responsible for the administration of mortgage interest relief through the tax relief at source [TRS] system. Revenue have requested that full details in relation to the person involved, including his pps number, and also details relating to the mortgage loan be provided so that a comprehensive reply to this question can be given.

However, in general, I should point out that tax relief on interest paid on all qualifying home loans is being phased out. Tax relief on interest paid on qualifying home loans taken out in the period 1 January 2004 to 31 December 2012 will continue up to and including the 2017 tax year. However, tax relief is not available on interest paid on loans taken out on or after 1 January 2013. Likewise, where a residence is under construction, only the interest paid on monies drawn down on or before 31 December 2012 will qualify for tax relief. 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.