Local Authority Home Loan
The Local Authority Home Loan is good news for anyone wanting to buy a home
Changes to the Local Authority Home Loan is good news for anyone buying a home in Laois, Offaly and the wider Midlands region.
From March 1st, the house price limit for Offaly and Laois increases from €250,000 to €275,000. In every local authority area the income limit increases to €70,000 for all single applicants nationwide and to €85,000 for all joint applicants nationwide.
This loan is available to first time buyers and, under the ‘Fresh Start Principle’ to people who are divorced or separated and have no interest in the family home, or who have undergone insolvency proceedings. It supports creditworthy borrowers who are unable to get a mortgage from commercial banks. It can be used for new, second hand or self-build homes.
I believe this scheme takes a very fair approach to people who, often through no fault of their own, were falling between 2 stools previously. I look forward to this revised scheme widening the net and helping more people and families to build lives in Laois and Offaly.
For more information please see Local Authority Home Loan