Brendan Griffin (Kerry South, Fine Gael)
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59. To ask the Minister for Finance his future plans for the provision of mortgage interest relief for homeowners; and if he will make a statement on the matter. [11161/14]

Michael Noonan (Limerick City, Fine Gael)
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The position is that 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.  Therefore, tax relief will continue to be available in respect of interest paid by an individual on qualifying home loans taken out on or after 1 January 2004 and on or before 31 December 2012, regardless of whether they are considered first-time buyers or non-first-time buyers.

Single individuals that are first-time buyers qualify for Mortgage Interest Relief up to a maximum ceiling of €10,000 for the first seven years of their mortgage.  Thereafter relief is restricted to a ceiling of €3,000.

This Government is committed to helping address the particular problems faced by those that bought homes at the height of the property boom between 2004 and 2008. In this regard, in Budget 2012, the Minister fulfilled the commitment in the Programme for Government to increase the rate of mortgage interest relief to 30 per cent for first time buyers who took out their first mortgage in that period. This was the period during which house prices peaked.

A mortgage holder will qualify for the increased rate if they made their first mortgage interest payment in the period 2004 to 2008 or if they drew down their mortgage in that period. In addition, the increased rate of tax relief for first time buyers who took out their first mortgage in that period will continue up to and including the 2017 tax year.

The arrangements and qualifying conditions for mortgage interest relief are publicised widely whenever changes to the system are made in the Budget and are published on the Revenue website.

It would be inappropriate for me to become involved in speculation on this matter so far in advance of the Budget, which is over seven months away.