Sligo councillor urges people check out new local authority home-loan scheme

A Sligo councillor is confident that the newly updated Local Authority Home-Loan Scheme, which is coming in to effect from today,will offer hope to those looking to get on the property ladder.

The scheme is aimed at helping people on low or modest incomes.

These 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.

The scheme is open to all First Time Buyers and to Fresh-Start applicants on low or modest incomes who can not get sufficient funding from commercial lenders to purchase new or second-hand properties.

Houses purchased under the scheme cannot have a value in excess of € 250,000.

Sligo Independent Councillor Marie Casserly says something needs to be done for those looking to get on to property ladder.