Kenley home may appeal to FTBs

Model Farm Road, Cork, four-bed property comes with extension, Tommy Barker reports

IT’S been a while since a good suburban home at this price level was pitched at first-time buyers, but that could again be the case as Budget 2012 brought some relatively good cheer in terms of a generous mortgage interest relief from 15% to 25% for buyers who make the purchase jump by the end of 2012. (And, sticking to promises in the Programme for Government, mortgage interest relief of 30% is confirmed for FTBs who took out mortgages in the peak-cost period 2004-2008.)

The week’s budget got a broad welcome for several initiatives to stabilise the property sector, on both commercial and residential fronts, but the real key still remains access to funding and borrowing.