Mortgage initiative ‘could push prices up’

A new Government-backed mortgage scheme will not solve the severe shortage of homes and could further push prices up, it has been claimed

Plans for a low-interest mortgage to help lower-income families and individuals who have been refused loans by the banks have been criticised by opposition parties and housing groups.

Housing Minister Eoghan Murphy has announced a Rebuilding Ireland Home Loan scheme for first-time buyers, which can be used to buy both new and second-hand proprieties or to build a home.