Local authority home loan scheme to rise by up to €55,000 under new Cabinet plans

Proposed increases of up to €55,000 aim to reflect rising property prices and support first-time and fresh-start buyers

It is understood that housing minister James Browne was “frustrated” that more people were not drawing down the local authority home loan. File picture

Cabinet will consider plans from housing minister James Browne today to increase the limits for the local authority home loan scheme to align with current house prices.

The local authority home loan was launched in January 2022, and the purchase and renovation loan was launched in July 2024 to support creditworthy “first-time buyers” and “fresh-start” applicants unable to get sufficient funding from commercial banks to buy a home or renovate a vacant or derelict property eligible for the vacant property refurbishment grant.