The Environment Minister says a Central Bank proposal to limit mortgages to 80 per cent of a property's value will have to be changed.
Alan Kelly says the plan which will mean buyers will need a deposit of 20 per cent upfront is too high.
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His comments come amid reports the government is considering a new insurance scheme to get around the Central Bank rules and make it easier for first time buyers to get a mortgage.
The details are still being finalised but its likely to be based on similar schemes in Canada, Finland and the UK.
