Carlow's local authority gets permission to draw down €10m for 'housing loan purposes'

It was passed by a show of hands

Darren Hassett

Reporter:

Darren Hassett

Email:

news@carlowlive.ie

Carlow Carlow Carlow

'Sufficient for the moment'

Carlow County Council has been granted permission by local representatives to draw down €10m for "housing loan purposes".

The matter was at the agenda at this month's full meeting of the Council where the executive sought approval from members for the "raising of a loan of €10 million for housing loan purposes in accordance with Housing Acts 1966-2014".

It was passed by a show of hands and Cllr Fintan Phelan asked if the amount was "all that's needed for mortgage applications" from members of the public seeking a local authority mortgage.  

Director of Services, Michael Brennan, said the sum would be "sufficient for the moment". 

Cllr Phelan also asked about the long delays in the local authority processing housing loan applications and Mr Brennan said the Council have "reduced the time period for assessing and approving the loans significantly in the last twelve months".