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Over 8 million euro for local authority mortgage applications in city

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Over 8 million euro for local authority mortgage applications in city

Galway Bay fm newsroom - A total of almost 8 and a half million euro has been allocated to the city council for applications under the Rebuilding Ireland Home Loan Scheme for 2019.

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The city council says it has already received 130 mortgage applications under the scheme.

The scheme provides Government-backed mortgages for first time buyers, through the local authority.

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3 million euro was allocated for applications in the city in 2018.

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8.4 million euro is available for applications this year, however some loans approved this year may not be drawn down until 2020 as approvals are valid for 6 months.

The city council says the scheme remains open in the city and applications are still being accepted.

The county council has not provided details of its loan amount under the scheme for 2019.

For more on this story, tune in to Galway Bay fm on the hour..

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