Two Rebuilding Ireland loans reach 'final approval' in Carlow out of 62 applications

Since February of this year, local authorities have been offering Rebuilding Ireland Home Loans

Darren Hassett

Reporter:

Darren Hassett

Email:

news@carlowlive.ie

Carlow Carlow Carlow

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Two Rebuilding Ireland loans have reached "final approval" in Carlow out of 62 applications, Carlow Live can reveal. 

Read also: People applying for Carlow County Council mortgages waiting 'up to ten months'

As with the previous local authority home loan offerings, loan applications under the Rebuilding Ireland Home Loan are made directly to the local authority in whose area the property proposed for purchase is situated.

Since February, local authorities have been offering Rebuilding Ireland home loans, a Government backed initiative which aims to offer low-cost mortgages to purchasers who have difficulty in securing finance from the main lenders.

Figures seen by Carlow Live show that there were 32 Rebuilding Ireland Home Loan applications up to October 31 and only two of these had been given final approval while a further 17 were given "provisional approval". 

It comes after this website revealed that over 60% of Rebuilding Ireland home loan applications to Carlow County Council were recommended for rejection - one of the highest across the country.