The Government is reportedly set to revise the requirement that assistance for first time buyers will only be available to those who are taking mortgages for 80% of the value of the property.

Fianna Fáil's Sean Fleming TD welcomed the reports after he clarified he was dissatisfied with the proposed scheme from the start.

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He said: "One area which we also expressed concern about was the proposal that assistance was only available if a buyer took out an 80% mortgage, meaning effectively that people who had been saving for a home before this scheme was announced would be forced into more debt if they wanted to avail of it. I highlighted this point in my initial contribution in response to the budget speech.

"If the reports that this element is going be relaxed are accurate, this is a welcome development."

(CD/LM)