First time buyers may soon find it easier to get a mortgage.
According to reports in the Irish Independent, the Government is planning to introduce a new scheme, whereby a portion of the mortgages to first-time buyers of new houses will be guaranteed by the State, in order to allow banks give out more loans.
Mortgages worth up to 95 per cent of the value of the home will be available to first time buyers - allowing them to buy houses with smaller deposits.
It's hoped the scheme will provide a much needed boost to the construction sector.
