Deluge of calls to Revenue over mortgage tax relief

THE Revenue Commissioners was deluged with almost 2,800 calls in just two days from homeowners concerned about last Friday’s suspension of mortgage interest tax relief.

The suspension followed the Government announcement in last month’s budget that the tax relief would be limited to the first seven years of a mortgage. Previously, it had been available for the full lifetime of the mortgage.

The budget decision took effect from last Friday, May 1. But the previous day, it emerged that Revenue did not have enough time to determine exactly who remained eligible, and was therefore temporarily suspending the relief for a massive number of mortgage-holders until their status could be ascertained.