The Government has today announced a change to the ill-advised ‘help-to-buy’ scheme introduced in the Budget.
The amendment specifies that a minimum loan to value mortgage of 70% will now apply, rather than the previously announced 80%.
The Central Bank had raised concerns that an 80% mortgage may leave people with unsustainable debt.
Fianna Fail had also some suggestions for the scheme, but these are believed to have been ignored by Fine Gael for the time being. They may be introduced in revised legislation later on.