Extending mortgage terms to 50 years, so that low to middle income earners can get a foot on the property ladder, is not a viable option.
That's according to Harry Dwyer of Money Care Monaghan who spoke about the matter on this morning's Joe Finnegan Show.
Harry says there is still 68% home ownership in this country and people are getting mortgage approval all the time.
And while he admits that regulations have gotten tighter, a deposit, proof of ability to pay, and a full time job are the necessary credentials needed to secure a mortgage.
Harry says the banks won't agree to 50-years mortgages because they are too long and warned that buyers will have to face increasing interest rates over the next 12 to 18 months.
"If they can't control this inflation, I think you could see upwards of 1.5% coming on board in the next 12 to 18 months," he continued.
"And, if people missed the boat first time round on fixing the mortgage, I would highly recommend they still do it.
"While inflation is at 9%, 10% or 11%, there is more pain to come."
