More homebuyers will be now eligible for the Local Authority Home Loan.
Minister for Housing, Local Government and Heritage Darragh O’Brien TD has today announced significant improvements to this scheme that will help more people to become eligible to apply for the State-backed mortgage.
The prices of homes eligible for this loan and income limits for those eligible to apply are being increased.
House price limits have increased from €250,000 to €275,000 in Mayo, Roscommon, Sligo and Leitrim.
Galway City and County see increases from €310,000 to €330,000.
Elsewhere in the country, areas such as Dun Laoighre Rathdown, South Dublin and Dublin City are among those who jump from €320,000 to €360,000.
Limerick, Clare and Westmeath are included in the bracket that increase from €250,000 to €300,000.
There are also increases in income limits for applicants in each local authority area.
For all single applicants nationwide, the limit increases from €50,000 and €65,000 to €70,000.
Whereas for all joint applicants, the limit will increase from €75,000 to €85,000.
These changes to the Local Authority Home Loan will come into effect on March 1 2023.