The new low-interest mortage scheme will be operated by local authorities is welcome, but should not be confined to first-time buyers.
That’s according to Roscommon-Galway Independent TD Michael Fitzmaurice.
The Housing Minister Eoghan Murphy yesterday announced details of the affordable mortgage scheme, which will be available through county councils from next month and will provide loans to buy a new or second-hand house or build your own home.
The income levels are 50,000 euro or under for a single person, or 75,000 for a couple, and they can borrow up to 90% of the market value of the house, and can choose a fixed rate interest of between 2 and 2.25% for 25-30 years.
Borrowers will be able to purchase properties worth up to 320-thousand Euro in Dublin, Cork and Galway and up to 250,000 euro elsewhere.
Deputy Michael Fitzmaurice has welcomed the move, but says it should also extend to people who lost their homes during the recession.
The Independent TD also told Midwest News today that, with an initial limit of 1,000 applicants, the scheme will only be open to three counties initially.
However, Midwest News has sought clarification on the new affordable mortgage scheme from the Dept of Housing and a spokesman confirmed that the scheme will be open to applicants nationwide from the 1st February.
