Local Authority Home Loan Scheme launches today

The public have been encouraged to apply for the Local Authority Home Loan Scheme.

The scheme announced this morning by Minister Darragh O’Brien is for those looking to purchase a new or second-hand home or build their own home.

The loan is a government backed mortgage for creditworthy first-time buyers and is available nationwide from the nearest local authority.

It enables an applicant to borrow up to 90% of the value of the property.

€275,000 is the maximum value of the property that can be purchased or self-built in counties Sligo, Leitrim, and Donegal.

Ballymote-Tubbercurry Municipal District Councillor Paul Taylor says its another option for those who want to own their own home.