Cork North West TD, Aindrias Moynihan has said that an affordable housing scheme must be rolled out as quickly as possible by the Government to ensure that every citizen has the right to own their own home.
Deputy Moynihan was commenting after questioning the Minister for Housing on his plans for affordable housing and affordable mortgages.
“At present, if you don’t qualify for social housing because your income is too high, or if you can’t get a commercial mortgage from a bank, the option of buying your own home isn’t available to a lot of Cork people.
“Many families are paying well in excess of €1200 per month in certain parts of the county which makes it very difficult to save for a deposit.
“Banks should look at a person’s ability to pay a mortgage, and include the amount of regular rent payments that he or she is making when it comes to offering mortgages.
“The Minister says that the Government and the Central Bank are looking into what is an affordable home, but unless an actual scheme is put in place, it will remain very difficult for most people to buy their own home.
“Despite earning decent salaries many single people, couples and families are not able to get together the deposit needed to get a deposit. With rocketing rent prices, there is little spare cash at the end of the month to put aside for a deposit.
“Many people are in limbo. They earn too much to get public housing, and earn too little to get a mortgage from a bank.
“There needs to be an affordable housing scheme rolled out by the Government as soon as possible. The previous one, delivered by the last Fianna Fáil government, was scrapped by Fine Gael in 2012.
“This was one of the biggest mistakes made in terms of housing by any government in recent memory.
“The Minister and the Government need to do the right and the smart thing and bring it back. There are thousands of people in Cork who are struggling to save in to the hope of getting a mortgage, but as house prices continue to rise, their dream of owning their own home is fast evaporating,” concluded Moynihan.