Radora and Glenkerrin Homes are expected to unveil further details of the scheme today.
The plans have been designed to assist potential house-buyers in a number of Dublin locations, including Stillorgan, Elm Park, Ballinteer and Palmerstown.
Glenkerrin’s Ray Grehan, speaking this morning, dismissed claims his firm was facilitating bad financial practice, by offering buyers a loan for their deposits.
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In relation to ongoing market problems, Mr Grehan said: "Builders step in where lenders fear to tread," and summed up the situation as "a lack of money and a lack of confidence".
Homes in Dublin’s Elm Park have already dropped prices by around 20% to stimulate interest.
Developer Radora is expected to offer buyers interest free loans of up to 30% of the property price, which will be paid back within five years.
According to a statement, Glenkerrin has proposed to step in and help out people who are no longer eligible for secure loans of up to 95%.
Those buying from the company’s portfolio in Stillorgan, Ballinteer and Lucan have to pay 5% of the asking price as a deposit.
However, they will now be able to take advantage of an interest-free loan of 15% of the price, to be repaid in seven years.
(PR/KMcA)
