Anger among young people looking to purchase new homes at the abolition of the first-time buyers grant.
The grant of €3,700 was paid to those buying a new home for the first time. For many, this grant was necessary in helping them to buy their first home. The government has defended the decision saying that the money from the grant was pushing up prices and ending up in the pockets of builders and developers.
Sandra Bradley and her fiancé are just one couple affected by the scrapping of the grant. Two days ago they put down a €500 booking deposit on a €188,000 new home in Balbriggan. With the abolition of the grant, the home will now cost them €3,700 more.
There was some confusion among first time buyers as to whether having paid a booking deposit before last night's midnight deadline was enough to qualify them for the grant. The answer from the Department of the Environment is simply no.
Buyers must have already signed a contract in order to be entitled to a grant.
Many first time buyers were outraged both by the decision and by the fact that it came into effect immediately.
Kevin McLoughlin, first time buyer, says that the abolition of the grant has made life more difficult for young people and is asking that the government reverse this decision.
An RTÉ News report broadcast on 15 November 2002. The reporter is Anne Marie Smyth.
