07 Oct 2022

Newly expanded Local Authority Home Loan scheme will benefit single applicants

Newly expanded Local Authority Home Loan scheme will benefit single applicants

Newly expanded Local Authority Home Loan scheme will benefit single applicants

Single aspiring homeowners will benefit from a newly expanded Local Authority Home Loan (LAHL) scheme.

It was announced by the Minister for Housing, Local Government and Heritage, Darragh O’Brien, today (January 4). 

The expansion is part of the government's Housing for All plan, which commits to introducing a reformed LAHL scheme to further support access to homeownership. 

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Minister O'Brien said, "The new regulations will make it easier for single people to avail of a State-backed mortgage for a new, second-hand or self-build home. A ‘Fresh Start’ principle also applies, which means that people who are divorced or separated and have no interest in the family home, or who have undergone insolvency proceedings, will be eligible to apply also.

According to the minister, the income ceiling for single applicants is being raised by €15,000 to €65,000 in counties Kildare, Louth, Meath, Wicklow, Dublin, Galway and Cork. 

He continued: "In September I lowered the interest rate for local authority lending by 0.25% and this lower interest rate will continue to apply to loans issued under the Local Authority Home Loan.

"Ultimately, this Government, through Housing for All, is working to put the dream of homeownership back in reach for people. Today’s announcement is another step in that direction." 

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