Terence Flanagan (Dublin North East, Independent)
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72. To ask the Minister for Finance if he has concerns that persons are being prevented from purchasing a family home and getting on the property ladder because of their inability to pay the substantial deposits that are a requirement of banks (details supplied); and if he will make a statement on the matter. [22278/14]

Michael Noonan (Limerick City, Fine Gael)
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As Minister for Finance, it is not appropriate for me to become involved in individual cases.

The decision on the approval of a mortgage for a borrower is a commercial decision for the lending institution concerned.  It is important that each lending institution is allowed to properly and independently assess the risks that it is considering when deciding whether to approve a loan.

My Department is committed, under the 'Construction 2020' strategy, to examine the concept of a mortgage insurance scheme. The objective of any scheme would be to ensure adequate availability of mortgage finance on affordable terms for new completions, particularly for 'First Time Buyers'. In doing so I would aim to provide the certainty needed to support greater levels of investment in new housing, with the associated benefits for the construction sector and ultimately for the consumer. Once this examination has been completed and presented to me I will consider the next steps.