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First time buyers grant going?

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  • 12-08-2012 2:34pm
    #1
    jakko86
    Registered Users Posts: 308 ✭✭


    Hi all just wondering what your thoughts are on the possibility of the first time buyers grant being cut at the end of the year? Am currently looking at buying a site and building and the possibilty of this being cut, so if i havent my first draw down of my mortgage made by january i wont get it so is it worth my while getting a move on or waiting for the grant to be cut and maybe property/site prices will fall more?


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    #2
    Victor
    Registered Users Posts: 78,402 ✭✭✭✭Victor


    The first time buyers grant was abolished in 2002.

    There may be changes in mortgage interest relief, so you should check that out. http://www.citizensinformation.ie/en/housing/owning_a_home/buying_a_home/mortgage_interest_relief.html


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    #3
    jakko86
    Registered Users Posts: 308 ✭✭jakko86


    yes sorry now for first time buyers is now known as mortgage interest relief which now looks next for the chop in december?just looking for some advice and opinions.


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    #4
    Gary The Gamer
    Banned (with Prison Access) Posts: 179 ✭✭Gary The Gamer


    Whilst the cash market is fairly significant now it is a well with a finite depth so ultimately mortgages will dictate prices. If banks are willing to lend a first time buyer 200K based on interest relief payments then the removal of these payments will result in the banks reducing the amount lended. This will directly result in lower prices. Lower prices are always better than relying on interest rate movements.


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