New affordability scheme 'not a double mortgage', says housing minister

Housing minister Darragh O'Brien has said that building homes is 'not like turning on and off a tap'.

Housing minister Darragh O'Brien has denied that his department's affordability scheme is a "win for developers" or a "double mortgage".

The housing budget will top €3.1bn next year, with an additional €500m earmarked for social and affordable housing. This includes €75m for a new national Affordable Purchase Shared Equity Scheme for first-time buyers.