The Government is to expand the availability of the State-backed Mortgage system for people who cannot get loans to buy homes from banks. The Local Authority Home Loan administered in Tipperary by Tipperary County Council was launched in January of last year as part of the Government’s Housing for All strategy.
Those approved for a mortgage under the scheme can use it to fund the purchase of new or second-hand homes or for self-build homes. In county Tipperary, the house price limit will be €275,000 and the maximum loan limit is €247,500 in such cases- the limits vary from county to county to reflect prevailing market conditions. The loans will have a fixed interest rate of 3.35% or 3.45% depending on whether it is repaid over 25 or 30 years. As regards the income limits for single applicants the limit increases to €70,000 and for joint applicants the income limit increases to €85,000.
More information on the Local Authority Home Loan Scheme can be found here
We cookies to deliver, maintain and improve services. We also have partners that measure how services are used. You can review and decide how we process your information and confirm your choicesAcceptRejectPrivacy policy
