The Government has this week announced a newly expanded Local Authority Home Loan Scheme.
In Housing for All, the new Plan for housing in Ireland, the Government committed to introducing a reformed Local Authority Home Loan scheme to further support access to home ownership for creditworthy home buyers who otherwise find it difficult to access sufficient finance.
The new regulations will make it easier for single people to avail of a State backed mortgage for a new, second-hand or self-build home. A ‘Fresh Start’ principle also applies which means that people who are divorced or separated and have no interest in the family home, or who have undergone insolvency proceedings, will be eligible to apply also.
The income ceiling for a single applicant has been raised by €15,000 to €65,000 in County Cork too along with Dublin, Galway, Kildare, Louth, Meath and Wicklow.
You can find out more information here: https://localauthorityhomeloan.ie/
