The Minister for Finance announced in Budget 2010 an extension of mortgage interest relief until the end of 2017. The Finance Bill has clarified that the relief will be available at current levels for loans taken out between 1 January 2010 and 31 December 2011, until the end of 2017. For loans taken in 2012, mortgage interest relief will be available at a reduced rate of 15% with a ceiling of €6,000/€3,000 married/single for first-time buyers and a reduced rate of 10% with a ceiling of €6,000/€3,000 married/single for non first-time buyers.
Loans taken out on or after 1 January 2013 will not qualify for mortgage interest relief and mortgage interest relief will be abolished completely for the tax year 2018 and subsequent tax years.