Changes to be made to controversial ‘Help to Buy’ scheme

A scheme which was described by a local auctioneer as “useless” and “of no consequence” is expected to be altered today.

Minister Michael Noonan is expected to announce wide scale changes to the help to buy scheme.

The plan aimed at helping first time buyers get on the property ladder has been met with criticism since it was announced in the budget last week.

Kilkenny auctioneer, Fran Grincell was among those who spoke out against it in the wake of the budget and said it should never have been limited to new builds.

The mortgage percentage threshold and the value of property to which the scheme applies are all expected to be lowered.