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Mortgage Interest Relief commenced in the year 2013 where 1st time home owners benefitted from a reduction of 30% of interest paid on mortgage to

Mortgage Interest Relief commenced in the year 2013 where 1st time home owners benefitted from a reduction of 30% of interest paid on mortgage to lending agencies.

You were asked to advise a group of 1st time home owners on Mortgage Interest Relief. Based on Guyana mortgage rules.

1. Definition of Mortgage Interest Relief.

2. What qualifies an individual/person for the relief

3. How to apply.

4. What are the requirements for the relief?

5. Discuss the advantages/disadvantages of the relief.

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