The changes to the Local Authority Home Loan scheme reflects the "reality" of the housing market. That's according to Cavan Monaghan Fianna Fail TD, Deputy Brendan Smith, who was responding to Minister for Housing Darragh O'Brien's plans on Tuesday to increase the house price and income limits of the State-backed loan scheme.
The house price limit in Cavan and Monaghan has increased to €275,000. Deputy Smith says the move will significantly improve accessibility for families and individuals in need of affordable housing options.
He added it was one of many "good schemes" that focuses on making homeownership more available to those who need it. “The changes to the scheme reflect the reality of the housing market and will significantly improve the accessibility for families and individuals in need of affordable housing options.
“On top of this very positive change, we have a body of work in communicating the value of this scheme to the public. This is one of the very many good schemes which make homeownership more accessible and it’s important we get that information out to the public.
“These changes have the potential to make a real difference in the lives of those who might not have been able to secure a mortgage otherwise. I hope these changes will encourage more people to take advantage of this important programme, and I look forward to seeing the positive impact it will have on our communities," the local TD said.
