Mortgage interest relief suspended in budget ‘blunder’

THOUSANDS of mortgage holders will have their mortgage interest relief suspended tomorrow in what is being seen as another budget blunder.

In his last budget, Finance Minister Brian Lenihan said the relief would apply to qualifying mortgages for the first seven years only.

However, it has emerged that many first-time buyers and all other mortgage holders will have the tax relief suspended by the Revenue tomorrow as it seeks to clarify who exactly is entitled to payments under the new budget measures.