Income limits for house loans to increase

Income limits for joint applicants will increase to €85,000

More people in Kerry will be eligible to apply for the State-backed mortgage following confirmation of improvements to the local authority home loan scheme announced by the Minister for Housing, Local Government and Heritage, Darragh O’Brien.

Income limits of those eligible to apply for a loan are being increased and from March 1 house price limits for homes in Kerry that are eligible will increase by €25,000 from €250,000 to €275,000.

Income limits for joint applicants will increase to €85,000 and the income limit for a single applicant in Kerry will increase to €70,000.

The home loan scheme was launched in January 2022 as part of the Housing for All plan and it supports credit worthy borrowers who are unable to get finance from commercial banks to buy a home.

It can be used for new, second hand or self-build homes and it means those on more moderate incomes are helped by the State to achieve home ownership.

Minister O’Brien said supporting home ownership is a key objective for this Government and the increase in eligible house prices coupled with the increase in income limits will mean more people in Kerry can access the loan Everyone reads it – ask anyone. Call 087-2229761 to advertise