Mortgage Interest Relief extended for home-buyers until end of 2012

IT'S a strange enough sign of the times but the word “austerity” seems to trip off the tongue far more regularly than expressions like “tax breaks” or even “cash back”.

But the new government did pull a welcomed rabbit out of the hat on Budget Day last December when they surprisingly extended the MIR for home-buyers for another year.

Mortgage Interest Relief was meant to be ended as an option to all property buyers at the end of last year but the current administration appear to have recognised the importance of MIR to the property market.