Only one Rebuilding Ireland home loan granted in Athy since scheme started

Council

Paula Campbell

Reporter:

Paula Campbell

Email:

paula@leinsterleader.ie

Only one Rebuilding Ireland home loan granted in Athy since scheme started

Athy Council Office

One loan has been approved from the Athy Municipal District since it began last Feburary.

There have been 42 approvals to date under the scheme but only one in Athy members of the Municipal District meeting were told at this month’s meeting, which was held earlier today.

Members heard that the main reason for refusual in Athy is repayment capacity.

“People are stressed looking for their own home but can’t get a mortage,” said Cllr Mark Wall. 

“The biggest problem for people is getting the 20 per cent deposit together. The primary reason for refusal is repayment capacity but rent paid to parents is not included in the repayment capacity.”

Cllr Martin Miley said that there are 450,000 people over 21 still living at home.

“It’s unbelievable,” he said. “The council are buying up all the vacant properites locally and young married couples can’t get their own homes.”

Chair Aoife Breslin added that the criteria for the loan approval is near ‘impossible’.

“It is a slow process to get approval and near impossible at times,” she said.

The meeting heard that the biggest issue locally is the debt income ratio is often too high meaning those applying for loans under these circumstances will not be approved.

“This is scheme is not working for the people of Athy and of south Kildare,” Cllr Mark Wall concluded.