Government’s new mortgage scheme labelled a “very disappointing package”

Housing Minister Eoghan Murphy (right), who announced the details of the new mortgage scheme.

The Government’s newly unveiled council mortgage scheme, which will be available through local authorities from February 1st, has been met with criticism.

The Rebuilding Ireland Home Loan — which is aimed at people turned down by the banks and first time buyers — will allow people to purchase properties worth up to €250,000 throughout Wicklow and the rest of the county.

However the scheme has been met with backlash from Sinn Féin Housing spokesperson, Eoin O’Broin, who called it a “very disappointing package” while speaking on RTÉ’s Morning Ireland.

“Instead of the state investing in good quality homes for working families, they have schemes working with the private sector, which will inflate the cost for everybody,” he said.

Labour spokesperson on Housing, TD Jan O’Sullivan, has said the proposals announced by the Government today do not go far enough to address the housing crisis.

O’Sullivan said the scheme “does not have the structural supports required to ensure enough homes will be built.

The mortgage scheme will be reserved for buyers who have a gross income of up to €50,000, or in the case of a joint application €75,000.

Housing Minister Eoghan Murphy is due to announce further details of the scheme today along with new proposals for building more mid-price homes and ensuring long-term affordable rents.

 

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