Wednesday 7 December 2016

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Published 17/10/2011 | 05:00

•If anyone goes for the proposal by Finance Minister Michael Noonan regarding their mortgage, they would want to be astray in the head.

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Imagine giving up ownership, after possibly paying a mortgage for five, 10 or 15 years, to become a tenant in your home. What happens if you ever want to move? You have no asset to sell. The banks would never give you another mortgage. You are doomed.

When I got married 40 years ago, we obtained a corporation loan and it was fantastic. The criteria to obtain this loan was that my husband's wages had to be a certain amount. If he was above this amount we wouldn't have been eligible and we would have applied for a normal bank loan.

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