Waterford City & County Council Home Loan limit to rise by €45,000

Minister of State for Planning & Local Government, John Cummins TD has confirmed that new house price limits of €345,000 for Local Authority Home Loans in Waterford are set to come into force in Q2 2026.

The Local Authority Home Loan is a Government-backed mortgage for first-time buyers and fresh start applicants. It can be used to purchase a new or second-hand property or for a self-build project. A Local Authority Home Loan provides up to 90% of the market value of the property.

Minister Cummins said: “Following Cabinet approval yesterday, and an updated review of house prices and income limits in recent months, the house price limit is being raised by €45,000. This will be the first time a change has been implemented since March 2023. The income limits for a single-income earner will increase from €70,000 to €80,000 and will remain at €85,000 for couples. This is in recognition that some single income earners were being locked out of the scheme, despite meeting all other criteria.”

A Local Authority Home Loan offers two fixed interest rate products: 3.35% fixed for up to 25 years and 3.45% for loans over 25 years and up to 30 years. Applicants must have proof of two insufficient mortgage offers from two regulated finance providers.

“The Local Authority Home Loan provides opportunities for those who may not be able to secure finance from a lending institution. It demonstrates that Local Government has an important role to play in providing practical routes into home ownership for first time buyers and fresh start applicants” said Minister Cummins.

“I would encourage anyone considering buying their first home that maybe having difficulties securing finance through the regular lending institutions to consider the opportunities available under the Local Authority Home Loan. It is important that the publicunderstand the options that are open to them designed to help making owning a home attainable.

“Government remain committed to implementing sensible, effective policies that expand housing options, accelerate construction and release housing supply at the scale and speed required to meet demand.”

Applications can be made to Waterford City & County Council and more information can be found at www.localauthorityhomeloan.ie.