This relief if available for mortgage interest paid up to certain limits. The maximum tax relief available for a single person, who is a first time buyer, is €4,000 per annum and €8,000 for married couples or a widower. These increased limits apply for the first seven years, thereafter the amounts fall back to standard rate of €2,540 and €5,080 respectively. The tax relief given is also at the standard rate which is 20% for the tax year 2003.

Other First Time Buyer Benefits :

1. Rent a Room Tax Free
2. Stamp Duty