New scheme could help low and middle-income earners to get on property ladder

A scheme to help low and middle-income earners to buy homes is expected to be revealed in the New Year.

According to the Sunday Business Post, eligibility will kick in at around €30,000 a year for single people.

That could be extended to around €85,000 for households where two people are earning salaries.

Aideen Hayden of the housing charity Threshold said that they have been calling for the scheme for some time.

"There's a significant number of people in the market at the moment who are trapped renting, who wouldn't be eligible for what are called 'social housing supports' - in other words, either rented housing through HAP [Housing Assistance Payment], or a social housing allocation," she said.

"They would be above the income threshold, but would find it extremely hard to be able to purchase in the private market.

"The idea behind the scheme is that nobody should be spending more than one third of their income on a mortgage."



Most Read in Ireland