28 Jan 2022

Local Authority Home Loan Scheme welcomed in Carlow

Local Authority Home Loan Scheme welcomed in Carlow

Changes will assist single applicants in Carlow

Fianna Fáil TD for Carlow, Jennifer Murnane O’Connor has welcomed a newly expanded Local Authority Home Loan scheme announced this week.

The introduction of the Local Authority Home Loan was announced as part of Housing For All and is open to all First Time Buyers and to Fresh Start applicants on low or modest incomes who cannot get sufficient funding from commercial lenders to purchase new or second-hand properties or to build your own home.

Deputy Murnane O’Connor commented:

"The changes announced will make it easier for single applicants in Carlow 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.

"Supporting home ownership is a key objective for Fianna Fail in Government. In Housing for All, our new Plan for housing in Ireland we committed to introducing a reformed Local Authority Home Loan scheme to further support access to homeownership for creditworthy homebuyers who otherwise find it difficult to access sufficient finance.

"In September the interest rate for local authority lending was lowered by 0.25% and this lower interest rate will continue to apply to loans issued under the Local Authority Home Loan.

"Ultimately, Fianna Fáil in Government, through Housing for All, is working to put the dream of homeownership back in reach for people in Carlow. Today’s announcement is another step in that direction", the TD concluded.

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