First time buyers may find it easier to get Local Authority loans

First-time buyers who’ve been unable to get a mortgage, could soon be able to avail of loans of up to 360 thousand euro from their local councils.

The memo will be brought by the Housing Minister to Cabinet this morning.

Last week, Donegal County Council agreed new protocols governing how houses will be assessed and tested for defective blocks before loans are agreed.

Minister for Housing Darragh O’Brien wants to see income limits and house prices increased, under the Local Authority Home Loan scheme.

The scheme is in place for people who’ve been unable to get a mortgage from their bank.

The house price limit will increase by 40 thousand to 360 thousand euro in Dun Laoghaire-Rathdown, South Dublin, Wicklow , Dublin city, Fingal and Kildare according to the Irish Independent.

In Limerick, Waterford, Clare Wexford Westmeath and Kilkenny there’s been a 50 thousand euro increase to the limit, which is now 300 thousand euro.

While Galway, Cork, Louth and Meath the house price limit is now 330 thousand euro.

Other memos which will be presented by ministers today, includes draft legislation on a statutory domestic violence agency.

While Minister are also set to be briefed by the attorney general on the government’s handling of the nursing homes debacle.


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