House buyers urged to apply for local authority home loans

The loan can be used to purchase a second-hand home as well as new homes and for self-builds.

Housing Minister Darragh O’Brien: The scheme offers ‘tangible financial assistance’ to prospective homeowners. Picture: Gareth Chaney/Collins

Prospective homeowners who may have had difficulty getting mortgage approval have been urged to apply for a Government-backed mortgage scheme, with Housing Minister Darragh O’Brien on Monday launching an advertising campaign aimed at encouraging take-up.

The local authority home loan scheme enables first-time buyers to borrow up to 90% of the value of their home, and Mr O’Brien said the initiative offers “tangible financial assistance to those looking to purchase their own home”.