‘Help buyers save for deposit’

The Government is being urged to bring in a scheme to help first-time buyers save for a deposit for a new home.

Mortgage brokers claim that the Central Bank’s new rules brought in this year on mortgage lending are so onerous that it takes too long for potential home buyers to save for deposits.

The savings scheme would be similar to the SSIA incentives introduced by former finance minister Charlie McCreevy over 12 years ago.