More than half of applicants for government home loan scheme rejected

The Rebuilding Ireland Home Loan is designed to provide an opportunity for mortgage applicants who have been unsuccessful with other lenders. Picture: iStock

More than half of applicants for the Government's affordable home loan scheme have been turned down, according to new figures.

The Department of Housing said 1,542 valid applications had been received to the end of November for a Rebuilding Ireland home loan, of which 827 had been turned down, with 715 approved.