325,000 To Lose Tax Relief On Monthly Mortgage Payment

325,000 households are to lose tax relief on their monthly mortgage payment when mortgage interest relief is phased out by the end of 2017, Fianna Fáil has revealed.

New figures provided to the part show the average benefit to families in 2015 is €850.


Finance spokesperson Deputy McGrath said: "This payment is a very important support for families particularly those struggling with sky high variable mortgage rates. Mortgage interest relief has already been withdrawn from new home buyers since 2012. The process of withdrawing it from existing homeowners at the same time as they are subject to a residential property tax highlights a Government that is pursuing policies that are making home ownership increasingly unaffordable for families."

(CD/MH)