‘SSIA fund’ can help first-time buyers

The Government should consider funding an SSIA-type mortgage savings scheme to help young and low-income buyers get on the property ladder, the Housing Finance Agency says.

Housing Finance Agency chairwoman Michelle Norris said other European countries have successfully used such special top-up saving schemes to fund private and public housing needs.

The agency, borrowing from EU banks, has a loan book of €3.6bn which it primarily lends to housing agencies at low rates for building social housing.