Pressure Mounts On GOV To Introduce Mortgage Interest Relief

Friday, 5 May 2023 11:50

By Caoimhe Harney

Tánaiste Micheál Martin has told the Dáil that a "knee jerk response" should be avoided

Pressure is mounting on the Government to provide mortgage interest relief for mortgage holders.

It follows yesterday's announcement that the European Central Bank would increase interest rate by a quarter of one percent.

Tánaiste Micheál Martin has told the Dáil that a "knee jerk response" to rising mortgage interest rates should be avoided.

Mr Martin said that there was no doubt that pressure was increasing on mortgage holders, however he said that calls for mortgage interest relief required further scrutiny.

He was responding to Sinn Féin's Spokesperson on Finance Pearse Doherty, who reiterated his call for the introduction of mortgage interest relief until the end of the year, to be reviewed thereafter, which would absorb 30% of the increase in interest rates since June 2022.

The Tánaiste told the house that the Sinn Féin proposal would discriminate against people on fixed mortgages, many of whom were paying similar rates to variable or tracker customers.

Michael Dowling, Managing Director, Dowling Financial joined Eoin Beatty on Friday's Kildare Today, listen back here;

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