More homebuyers in Kildare now eligible for the Local Authority Home Loan

The government has announced that more homebuyers in County Kildare are now eligible for the Local Authority Home Loan.

Minister for Housing, Local Government and Heritage, Darragh O’Brien TD, today announced improvements to the Loan, which will result in more people in Kildare being eligible to apply for the State-backed mortgage. 

The Loan was launched in January 2022 as part of Housing for All, and is aimed at supporting creditworthy borrowers who are unable to get finance from commercial banks to buy a home.

It can be used for new, second hand or self-build homes; it also means that those on more moderate incomes are helped by the State to achieve homeownership. 

Speaking after the announcement, Minister O’Brien said: "I am delighted to announce these improvements to the Local Authority Home Loan. 

"Supporting home ownership is a key objective for this Government and the increase in eligible house prices coupled with the increase in income limits will mean more people in Kildare can access the loan."

The Minister continued: "Importantly, building on changes made this time last year we are again increasing the income limit for single applicants so that those earning up to €70,000 who wish to purchase a home can avail of the State backed loan.

"The 'Fresh Start Principle' also applies whereby people who are divorced or separated and have no interest in the family home, or who have undergone insolvency proceedings, can also avail of the loan."

"The changes reflect the reality of today’s housing market and we will continue to keep the Local Authority Home Loan under review to ensure it remains a genuine and relevant support for people in Kildare who want to own their own home," Minister O' Brien concluded.

The prices of homes eligible for a Loan and income limits of those eligible to apply for a loan are being increased. 

Minister Darragh O' Brien, TD (Fianna Fáil)

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From March 1, 2023, house price limits for homes in the county that are eligible for the Loan will increase by €40,000 from €320,000 to €360,000.

Income limits for joint applicants will increase to €85,000 and the income limit for a single applicant in Kildare will increase to €70,000.

According to the Minister's Department, since February 2018, over 3,300 people have got on the property ladder through the Loan and its predecessor the Rebuilding Ireland Home Loan.

Minister O’Brien, along with Public Expenditure and Reform Minister Paschal Donohoe TD, will sign the amendment regulations in the coming weeks. 

More information on the Local Authority Home Loan can be found at: https://localauthorityhomeloan.ie/.

In addition, for more information on the number of local authority loans approved and amounts paid, at local authority area level, click here.