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Most of those who failed to be approved in Louth had not demonstrated an ability to repay the loan
A Louth councillor is calling for a renewed publicity drive to make people more aware of the Rebuilding Ireland home loans and what’s needed to qualify.
The local authority is set to approve the next round of funding of €8 million while a further €1 million which has not allocated from the current tranche can be carried over.
Applicants must have been turned down for a mortgage by two high street financial institutions.
However, Louth County Council’s Director of Social Development Paddy Donnelly told the Dundalk Municipal District’s monthly meeting that most of those who were not approved for the scheme locally, had failed to demonstrate an ability to repay the loan.
He stressed that they have to show a regular savings pattern over two years.
Fianna Fáil’s Emma Coffey says she thinks local politicians have a part to play in making people more aware of the scheme:
Source: lmfm.ie