One young couple share their experience of purchasing a house.
Eamon Lawlor and Evelyn McGuinness saved hard for two years to get the deposit to buy a home. The couple saved Eamon's wage every week living off Evelyn's income. Their story is familiar to any young couple trying to buy a house.
The couple believe that the middle man could be cut out of the process of buying a home. They explain how the bill for the solicitor's fee is £700.
Couples are constantly put under pressure to get on the property ladder. Ireland has the highest percentage of home ownership in Europe but it is becoming more and more difficult to get a house. Eamon Lawlor and Evelyn McGuinness decided to buy a home before getting married, as property is not going to get any cheaper. The couple managed to save £80 a week but with these savings mean making sacrifices.
Once they had found a house, they put down a £1,000 deposit with the builder. They then applied for a mortgage from the Irish Life Building Society. When their application was approved, they were offered £7,500. However, this fell short of what they needed and they lost the property.
The couple approached a different building society and applied for a loan on the same housing estate as the property they originally wanted. They managed to get the £20,000 loan they needed and hope to get the keys to their home shortly. They are aware of the financial burden they now face.
All we have is our four walls. As for starting a family, we can forget it for at least five or six years.
This episode of 'Ireland's Eye' was broadcast on 18 March 1981.
