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Property Market after Mortgage Interest Relief

  • 02-10-2012 9:47pm
    #1
    Baralis1
    Registered Users, Registered Users 2 Posts: 350 ✭✭


    I'm thinking of buying a house in the next year or so. Unfortunately I won't have bought one before mortgage interest relief ends next December. I'm just wondering, would I be just as well off though. There will probably be a minor rush in buying houses in the next three months but I wonder, after December, will house prices start to fall again in the new year. I will probably save as much by buying a slightly cheaper house in a year's time!


Comments

  • #2
    flintash
    Registered Users, Registered Users 2 Posts: 359 ✭✭flintash


    There wont be a rush. Deal is coming in the end in next couple weeks so. You need to make actual mortgage repayment before 1st Dec to avail Interest relief. Things aren't happening that fast. If you just after putting an offer.... :confused:


  • #3
    Lenny
    Moderators, Music Moderators, Recreation & Hobbies Moderators Posts: 9,389 Mod ✭✭✭✭Lenny


    flintash wrote: »
    There wont be a rush. Deal is coming in the end in next couple weeks so. You need to make actual mortgage repayment before 1st Dec to avail Interest relief. Things aren't happening that fast. If you just after putting an offer.... :confused:

    I went back a good few pages on the "buying a house 2012" and I read that the deal would have to be sealed/cheque done/lodged at about 20th dec to get the relief,

    From citizensinformation.ie
    "Special 30% rate
    For mortgages taken out by first-time buyers between 1 January 2004 and 31 December 2008, the Finance Act 2012 provides for a special rate of mortgage interest relief of 30% for the tax years 2012 to 2017."


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