Opinion: 'Mortgage rules are massively unfair on people who can't rely on their parents for a sizeable deposit'

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Since the banks no longer require you to prove that you saved the deposit - having one says nothing about your ability to repay the loan, writes Fiona Cassim.

I am once again surrounded by chaos, with boxes and bags dumped unceremoniously on the sitting room floor of our new rental.

We want to buy a home, but in the Ireland of 2019, homeownership is becoming more and more difficult to achieve.Both my husband and I are in permanent full-time employment. We earn a little more than €400 each per week, so we are in a bracket of people who can meet the rent and bills each month but after the necessities are paid for, there is not much left over.

We have researched every government scheme available and there is no help for people in our situation. We are trapped in a vicious circle – an ever revolving door. Luckily for her, she declined the bank’s offer – the scheme was scrapped soon after because of its role in collapsing the country’s economy.

 

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