Yet it must not be forgotten that home-buyers were also receiving help from the Treasury in the form of mortgage interest relief
at source (MIRAS), which offered valuable tax relief for the hard-pressed.
The amount of money the homeowner receives is dependent on the annuity rate bolstered by mortgage interest relief
Nor has the likelihood of Mortgage Interest Relief
At Source (MIRAS) being axed.
The MP for Cambridge, who part-owns a farmhouse and land in his constituency, said: "The stupidity of the system is that I was quite happy claiming my mortgage interest relief
The bill also gave effect to the increased mortgage interest relief
for homeowners who bought in the boom and for first-time buyers who invest this year.
Rises in stamp duty and the abolition of mortgage interest relief
have hit homeowners, while incentives to save have been reduced by a range of measures, such as scrapping the right to mop up unused tax relief on pension contributions and the replacement of Peps and Tessas by the much less attractive Isa.
Measures in Budget 2012 - attractive Capital Gains Tax provision and increased mortgage interest relief
- is a clear indication of the Government's realisation of the importance of a fully-functioning property market to economic recovery.
Mortgage interest relief
at source (MIRAS) was finally phased out in the chancellor's 2000 budget.
I've read that mortgage interest relief
is being reduced.
But now thanks to Minister Noonan's decision to increase mortgage interest relief
from 20% to 30% for first-time buyers who bought between 2004-2008, I am looking at a saving of almost EUR200 a month.
He said: "I am informed by the Revenue Commissioners that the cost to the Exchequer of mortgage interest relief
by way of tax relief at source (TRS) in 2010 was EUR375million and in the six months to the end of June 2011 is EUR178million.
Halifax said the dampening effect was caused by a number of factors, including the four interest rate rises between September 1999 and February 2000, and the abolition of mortgage interest relief