A former Mayor of Clare is expressing concern that young professionals in this county earning up to €50,000 have “no hope” of getting a mortgage.
Tom McNamara says it’s vital that the Rebuilding Ireland Home Loan scheme introduced last year is extended to help those unable to access bank loans for their first home.
The scheme allows those who have been rejected twice apply to their local authority for the finance and so far, 72 applications have been received in Clare with 40 approved to date.
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Kilmaley Fianna Fáil Councillor McNamara says it’s an invaluable lifeline for those who are struggling to meet the requirements for climbing house prices:
