Nearly half of first-time buyers turned down for State-backed home loan scheme

Of 582 applications made for the 'Rebuilding Ireland' mortgage loan, only 302 were approved

Almost half of first-time buyers who have applied for a Rebuilding Ireland home loan this year have received a recommendation to decline.

Figures reveal that 582 applications were made to the Government-backed mortgage scheme for first-time buyers in the first quarter of this year. However, just 302 have been recommended for approval.