November 2008 – First Time Buyers get new purchasing option says Brady

Deputy Aine Brady has this week urged Kildare First Times Buyers to check out the new Government Initiative, the Home Choice Loan, which is designed to assist first time buyers get on the property ladder. Deputy Brady was speaking after a meeting with the Minister for Housing Michael Finneran TD.

'Home Choice Loan is a mortgage provided on a regional basis through a number of Local Authorities for First Time Buyers who cannot get sufficient finance from a bank or building society, particularly in these credit crunch times.' stated Deputy Brady.

'The loan will provide upto 92% of the market value of the property, with the maximum loan amount been €285,000, for new built homes with the mortgage term been for a maximum of 30 years.'

'There are some other conditions including that the buyer must earn in excess of €40,000, and it will operate as a separate scheme to the existing local authority mortgage scheme with normal credit assessment procedures will apply.' stated Deputy Brady.

'The scheme will be operated with support from the Affordable Homes Partnership and information on how to apply for a Home Choice Loan will be available in the coming weeks.  The scheme is been funded through the Housing Finance Agency. Further information on the scheme can be obtained by phoning 1 890 252 842 or www.homechoiceloan.ie .' concluded Deputy Brady.

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