Darragh O'Brien (Dublin Fingal, Fianna Fail)
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The Local Authority Home Loan is a Government backed mortgage scheme for creditworthy applicants who cannot get sufficient funding from commercial banks to purchase or build a home. It has been available nationwide from local authorities since 4 January 2022 for first-time buyers and fresh start applicants. The loan can be used both for new and second-hand properties, or to self-build.

The ‘Fresh Start’ principle applies for applications to the Local Authority Home Loan where an applicant who previously purchased or built a residential property, but has divorced/separated or otherwise and has left the property and divested themselves of their interest in the property are eligible to apply.The "Fresh Start" principle does not apply for an applicant who wishes to buy out their former partner from the current family home, following a separation/divorce.

There are no plans at present to expand the Local Authority Home Loan to include remortgaging. However, I will keep this matter under review.