NEW STATE LOAN FOR GALWAY FIRST TIME BUYERS

Date Published: 16-Oct-2008

The Government is announcing a new State loan aimed at easing pressure for first time buyers in Galway and around the country.

The Home Choice Loans scheme is an extension of the local authority mortgage scheme.

It will be operated by Galway and Kilkenny County Councils aswell as Dublin and Cork city councils.

The loan will be available for first time buyers purchasing newly-built homes on the open market.

Borrowers must earn more than forty thousand euro to qualify.

Under the scheme potential buyers can borrow up to two hundred and eighty five thousand euro to a maximum of 92 per cent of the value of the property purchased.