Cautious welcome for proposed new mortgage scheme

The Government is planning to introduce a new scheme which will make 95 per cent mortgages available to first time buyers of new houses.

A portion of the mortgages will be guaranteed by the State under a government mortgage insurance scheme.

Its understood the aim of the move is to stir demand to get ghost estates finished and also to entice devlopers to start building new houses.

Carol Tallon of Buyers Broker property agents told Sue Nunn earlier that its controversial but has potential to be good news locally.