New blow for first time buyers
Two banks have stopped offering exemptions in a new blow for first time buyers.
According to the Irish Independent, Permanent TSB and KBC have closed off the option of getting an exemption from the Central Bank mortgage borrowing limit rules.
The announcement comes amidst claims that the government's latest housing bill could make the housing crisis worse.
It proposes policies that would reserve 50% of future housing estates for first-time buyers and prohibit bulk buying by cuckoo funds.
Rory Hearne, Author and Lecturer in Social Policy at Maynooth University says the measures don't go far enough.
"The measures that are outlined in the government's measures are important and they're good steps, but they're nowhere near enough to respond to the situation of the crisis.
"Their own policies have gotten us into this crisis by not building social housing, by not building affordable housing over the last decade."
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