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Affordable Mortgages/Cheaper Interest Rates

  • 22-01-2018 5:31pm
    #1
    BattleCorp
    Registered Users, Registered Users 2 Posts: 11,789 ✭✭✭✭


    https://www.irishmirror.ie/news/irish-news/politics/irish-government-announce-new-affordable-11892472

    Apparently the Government are going to offer mortgages at 2% - 2.25% interest to people who are struggling to get funding from banks. That's miles less than I'm paying at the moment.

    How are the Government going to be able to offer cheaper mortgage rates than the banks? Will this force the banks to lower their rate?

    Is it right to do so? Is it not screwing with the market?

    My thoughts are that if this is implemented, it will force the price of houses even higher.


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