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76% of Kerry Home Loan applications recommended to be declined for far this year

Jul 29, 2022 08:16 By radiokerrynews
76% of Kerry Home Loan applications recommended to be declined for far this year
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76% of applications made under the Local Authority Home Loan in Kerry have been recommended to be declined for far this year.

The figures were provided by Housing Minister Darragh O’Brien following a query from Fianna Fáil TD James O’Connor.

The Local Authority Home Loan is a Government backed mortgage for first time buyers and fresh start applicants.

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It can be used to purchase a new or second-hand property or for self-build, and provides up to 90% of the market value of the property; the maximum loan amount is determined by where the property is located.

Between January and the end of May this year, 21 such applications have been assessed by Kerry County Council.

Five have been recommended to be approved, while 16 are recommended to be declined.

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Nationwide, 1,026 applications have been assessed; 481 have been recommended to be approved, while 545 are recommended to be declined.

 

 

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