People in Cork to Benefit from Changes to Local Authority Mortgages

Changes to property price ceilings and income thresholds will help more people in Cork become homeowners,  Cork North West Fine Gael TD John Paul O’Shea has said.

Deputy O’Shea said these changes will continue to provide support to people who are looking to buy but struggling to access finances from a commercial bank.

“I’m delighted to see these changes to the Local Authority Home loan and the Local Authority Purchase and Renovation loan. These changes will enable more individuals and families across Cork to qualify for a State-backed mortgage.”

Cork County Council will see an increase from €330,000 – ​€375,000

The Local Authority Home Loan was launched in January 2022 and the Local Authority Purchase and Renovation loan was launched in July 2024. These loans support first time buyers who are unable to get sufficient funding from commercial banks to buy a home.

These changes will come into effect in Q2 of 2026.

“Increasing the property price ceilings and the single income limit will help more people get a mortgage and start their journey to homeownership. I would encourage people in Cork looking to buy their own home to look into if they are eligible for the Local Authority Home Loan and the Local Authority Purchase and Renovation loan.

“Fine Gael is committed to ensuring people have a wide variety of options to buy their own home,” concluded Deputy O’Shea

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New house price limits for all local authority areas:

• ​€415,000 – an increase from €360,000 for Dun Laoghaire Rathdown, South Dublin County Council, Dublin City Council, Fingal County Council, Kildare and Wicklow.

• ​€375,000 – increase from €330,000 for Galway City, Cork City, Meath and Cork County.

• ​€345,000 – increase from €300,000 for Clare, Kilkenny, Limerick, Waterford, Westmeath and Wexford and an increase from €330,000 for Galway County and Louth.

• ​€310,000 – increase from €275,000 for Carlow, Cavan, Donegal, Kerry, Laois, Leitrim, Longford, Mayo, Monaghan, Offaly, Roscommon, Sligo and Tipperary.