Banks ‘up to their old tricks’ on mortgage refusals

The main banks have been accused of getting “up to their old tricks” by “manipulating” the system to prevent people accessing a low-interest mortgage scheme.

Former OPW minister Seán Canney says banks are neither approving mortgages nor issuing refusals in some cases, meaning first-time buyers cannot access the Rebuilding Ireland home loan.

The scheme, operated by local authorities, provides mortgages to first-time buyers who do not qualify for social housing but do not earn enough to get finance from a commercial lender.