Dáil Éireann Debate, Tuesday - 27 July 2021
621. Deputy Cathal Crowe asked the Minister for Housing, Local Government and Heritage if he will consider increasing the maximum value of a property that can be purchased under the Rebuilding Ireland home loan scheme in County Clare; and if he will make a statement on the matter. [39403/21]
View answerMy Department operates the Rebuilding Ireland Home Loan, which is targeted at first time buyers who wish to own their own home, have access to an adequate deposit and have the capacity to repay a mortgage, but who are unable to access a mortgage sufficient for them to purchase their first home.
With a Rebuilding Ireland Home Loan you can borrow up to 90% of the market value of a residential property. Maximum market values of the property that can be purchased or self-built are:
- €320,000 in the counties Cork, Dublin, Galway, Kildare, Louth, Meath and Wicklow, and
- €250,000 in the rest of the country.
This limits the amount that can be borrowed to no more than €288,000 in the counties Cork, Dublin, Galway, Kildare, Louth, Meath and Wicklow and no more than €225,000 in the rest of the country. There are no plans at present to change these limits.
The Programme for Government - "Our Shared Future" contains a commitment to expand the Rebuilding Ireland Home Loan.
Further information and full details of the loan’s eligibility criteria can be accessed on the Rebuilding Ireland Home Loan website in the link below.
www.gov.ie/en/service/f749a-rebuilding-ireland-home-loan-scheme/
