Fianna Fáil remain opposed to first-time buyer measures announced in budget

Fianna Fáil remain opposed to first-time buyers’ grants going towards the purchase of new €600,000 homes, saying the budget measure is “mad” and “off the wall”.

Finance Minister Michael Noonan this week was forced to overhaul the grant scheme, after it emerged the required minimum loan-to-value ratio would force first-time buyers to borrow more.

Following an intervention by the Central Bank, the loan-to-value threshold to avail of the grant is being reduced from 80% to 70%.