Govt's New Affordable Mortgage Scheme

#41 … ing-crisis


Gave me a laugh anyway


Troll somewhere else.


:laughing: Very good.


For non FTBs will this also benefit them?

e.g. Govt backed lending under 3% causing banks to have fixed and variable rates at low 2% to match?


Leo says the scheme will be expanded:
the scheme will be assessed in the coming months and predicted it will be expanded to allow the Govt to offer “these low cost loans with fixed interest rates to more people”.
and advises
go get a deposit from your parents


He also suggests a few other options :slight_smile:


Such as “getting loans from other sources”, not sure how responsible it is to be encouraging people to do this to raise a deposit.


Yeah…some of my Facebook “friends” are losing their precious minds,all because Leo said that traditionally, people have raised deposits from a varied range of sources - including working abroad, from parents etc.


I see that Varakar also said in that Dail speech (when opposition TDs pointed out that 50k and 75k were very restrictive!!!) that there’d be a review of this new scheme after a few months and the hope would be to expand it XX


Residential land shouldn’t be any more expensive than agricultural land in an ideal market. Why cant we make it like that?


Now imagine these shenanigans if we had a population of 10 million … 2-Mar2015/

Imagine all this housing crap in that context. That IS where you are headed. A mini South East England.


In many country towns it is not.


Give a single example in any town anywhere in the country where residential development land can be got for €10k per acre. Just one. It doesn’t even have to be town where someone might actually want to live.


Media today - Leo’s spin team won’t be happy.
Indo - Leo’s mortgage mantra: emigrate, move home or borrow from parents
Examiner - Leo: Parents helped me with deposit for house
IT - ‘Lots of us did’: Varadkar says housebuyers can rely on parents for deposits
Mirror - Leo slammed for suggesting budding house-buyers 'get money from their parents
TheJournal - Poll: Could you ask your parents or a relative for help in buying a home?


Gobshite statements.

We were lucky to save a 20% deposit over 8 years in the private rental sector. That was before kids and skyrocketing rents. No emigrating, no bank of mammy and daddy. Just me battling constantly with my wife to get her to learn to save a bit. :smiley:

On the affordable scheme. It’s an ill thought out concept. Lets have our own Fannie Mae and Freddie Mac.


So you have to get refused twice on a mortgage to qualify for this scheme?

Be right back - going down to AIB to put in spurious application for mortgage amount I have no hope to pay.


What was Howlin asking him anyway?


Howlin just asked how is this scheme helping people, he focused on a deposit
How are the very people who are being refused mortgages by banks and building societies supposed to pay exorbitant rent and at the same time save €20,000 or €25,000 as a deposit? That is a hopeless task to put to them.
Effectively, the Government is now financing every side of the private housing market.
From every angle, the Government has found a support base for the private housing market. What I ask for is very simple - the creation of a national State agency to use the resources of the State, the land of the State and the commitment of the State to build affordable housing for our people in a crisis. … -23a.5#g23


It’s time to open that Paddy Power account and routinely top it up with your credit card. You don’t need to gamble it. Just let your account balance build up. Oh and wear an Irish Racing T-shirt to your mortgage interview :smiley: