A Department of Finance spokesman told ireland.com that the Government also intends to raise the ceiling on mortgage interest relief for first-time buyers in Budget 2008.
The relief will be raised from €8,000 to €10,000 for single people and from €16,000 to €20,000 for couple back-dated for seven years as pledged in the programme for government, he said.
Yes-I agree with that-the reports of recent days certainly suggest otherwise-but that could be just misinterpretation.
As am I - I think the first statement from the Finance spokesman was badly put, and the Indo hopped on it without checking further. I certainly wouldn't budget for a backdated payment!I am still skeptical.
I think youse are all guilty of hearing what you want to hear. TRS is a relief which is applicable for 7 years. Stephan Collins is paraphrasing the FF election pledge. As outlined above the exact wording was "We will increase in Budget 2008 the ceiling
on mortgage interest relief for first-time buyers and those who bought a house in the past seven years, from €8,000 to €10,000 for
single people and from €16,000 to €20,000 for couples or widowed persons."
This was also the wording used when TRS was increased in the last budget. People who were still within the first 7 years of their mortgage would benefit FOR THE REMAINING period of that 7 years. Unless someone here received a cheque in the post after the last budget WHEN TRS WAS INCREASED IN THE SAME WAY then I wouldn't be expecting one now. Anyone who is is deluding themselves and setting themselves up for a fall.
you could be right, but Collins does mention a 'tidy lump sum' so maybe he is believing what he wants to also
I would expect that there won't be money in the bank or cheques issued as I found out that most lenders simply apply these TRS arrears against the principle.
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