Michael Finneran (Roscommon-South Leitrim, Fianna Fail)

As I stated, this scheme is a temporary measure. It will be kept constantly under review. A number of people have shown an interest and have gone through formal applications, and it would be inappropriate to deny them the opportunity we presented in this scheme.

Deputies should remember that there are two other aspects to this. The existence of this facility may have spurred financial institutions to give out loans where they might not have done so in the past. In addition, since September the recapitalisation of the banking institutions was proposed and implemented and these banks are providing loans as well.

Also, the sentiment in the market may say that people are not purchasing. There is no great information available to us that people are purchasing houses at present. While 1,400 have already registered an interest, they may be waiting, like others who have been going through the financial institutions, to see whether we have reached the floor in terms of house prices. There are a number of factors at play here.

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