First-time-buyer loan scheme requires 'further tranche of funding' to continue

A first-time-buyer can apply for a home loan to purchase a new or second-hand property, or to build their own home under the scheme.

Image: Shutterstock/Elena Zhi Image: Shutterstock/Elena Zhi A FIRST-TIME-BUYERS loan scheme requires a “further tranche of funding” in order to continue.

First-time-buyers can borrow up to 90% of the market value of the property, with maximum market values set at €320,000 in the counties of Cork, Dublin, Galway, Kildare, Louth, Meath and Wicklow, and €250,000 in the rest of the country. “The issuing of any directive from the Department of Housing telling councils to stop considering applications sets off alarm bells for those who are considering the Loan Scheme as their last resort or who have already started their applications,” said O’Sullivan.

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