Fine Gael Minister Simon Coveney has welcomed the ‘Rebuilding Ireland Home Loan’ mortgage scheme unveiled by his colleague Eoghan Murphy.
For the first time Cork families will be be able to know their payments for the entire lifetime of a mortgage because of the fixed interest rates of 2-2.25% in this government-backed mortgage scheme (that’s lower than any bank’s interest rate)
The scheme will be open to first-time buyers who are…
– A single person earning €50,000 or less.
– A couple earning €75,000 or less.
New homes, new builds and second hand homes all qualify and the person or couple can borrow 90% of the value of the property.
The value of the home you can buy must not exceed €320,000 in Cork City (Dublin and Galway too). In the rest of the country, it is a maximum of €250,000.
The government has put in place enough money for 1,000 mortgages and the scheme opens on Feb 1st.
Check it out here: http:// rebuildingirelandhomeloan.ie/