Construction News

08/04/2009

First Time Buyers Get Budget Relief

The Irish Finance Minister Brian Lenihan has targeted first time buyers as part of yesterday's package of measures in the State's emergency Budget.

As he began to detail a series of radical spending cuts and tax increases yesterday afternoon in the Dáil it emerged that mortgage interest relief for private residences will only be available for the first seven tax years of the mortgage,

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This will take effect from May 1 with Brian Lenihan saying this move will "support those who want to move or buy for the first time".

He also revealed that a a Stamp Duty trading scheme is also set to be implemented.

(BMcC/JM)

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