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Kerry councillor worried about number of Home Loan application refusals

Jul 30, 2022 17:07 By radiokerrynews
Kerry councillor worried about number of Home Loan application refusals Kerry councillor worried about number of Home Loan application refusals
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A Kerry councillor says he’s worried about the number of applications to a state-backed mortgage which were refused.

Yesterday, Radio Kerry reported that 76% of Local Authority Home Loan applications have been refused so far this year, compared to 53% refused nationally.

The Home Loan scheme 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.

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Fianna Fáil councillor Michael Cahill says he’s worried about the percentage difference, in case criteria for the scheme is working against rural dwellers in Kerry.

He says it would be helpful for the council, its members and applicants to know if there are particular requirements that applicants in Kerry haven’t been able to fulfil, which people in other counties have.

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