Good news for those who took out home mortgages in the period 2004 – 2008. The mortgage interest relief for first time buyers who are residing in the property increases to 30% until 2017.
According to the Revenue website there is no need for borrowers to do anything. Revenue and the lending institutions will make the necessary changes. For administrative reasons this will take a period of time to complete but you will not lose out and will get full mortgage interest relief due to you in 2012.
However, if you have any queries in relation to the above, contact us in Loughrea for further deatils about any accountancy and taxation matters.