“Valuations would be done by the State..”

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At IrishElection.com Cian has already noted this, but it’s worth quoting the criteria under which the Republic of Ireland’s government proposes to extend loan facilities to first-time buyers..

Under the Home Choice Loan scheme, the Government will lend up to 92% of the value of a home to an individual buying a new house, provided they are a first-time buyer and earn in excess of €40,000 a year.

They must also be in permanent employment for at least two years, and be able to prove that they have been unable to secure a sufficient mortgage from a bank or building society. The loan will be at the commercial variable lending rate and the risk of each loan will be assessed using the same grounds that banks use.

Lending to those deemed not being credit-worthy has caused problems before.. just saying.. “as fears of a global recession sent world stockmarkets falling..”

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