Michael Finneran (Roscommon-South Leitrim, Fianna Fail)

While I appreciate the points made by the Deputy, I remind him that I also introduced the incremental purchase scheme. I do not intend to close down the scheme and, as I noted, I intend to extend it as and from 1 January 2010 to the second-hand house market. The scheme is in place with no incentive. The most important reason for its existence is to support people who wish to buy a house and who could make repayments on it but who lack the deposit sought from them by many financial institutions. It is in place as an alternative and the information available to me does not show there is as much credit available in the mortgage area as people would wish. In addition, it is important to recognise there is no great sentiment in the market for the purchasing of houses.

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