It is now unlikely that mortgage interest relief for first-time buyers will be abolished in June as proposed in the Programme for Government.
This means that first-time buyers will have until the end of the year to claim the relief, which is worth around €30,000 over the first seven years of the mortgage.
The Programme for Government included a plan to scrap mortgage interest relief for first time buyers from June and target the money towards those who bought at the height of the boom.
Any changes to mortgage interest relief would have to be introduced in a Finance Bill and while the government is planning a jobs mini-budget after its first 100 days, it's understood this proposal will be pushed out until the end of the year.
The property industry has welcomed the move which they hope will encourage buyers to take the plunge.
