New mortgage scheme available in Donegal next week

Government Chief Whip Minister Joe McHugh has welcomed his party colleague's launch of a new Government mortgage scheme.

Housing Minister Eoghan Murphy has introduced three new means to support people and families who are not eligible for social housing but who also cannot afford to rent or buy their own home.

The Rebuilding Ireland Home Loan, a new Government-backed mortgage for first-time buyers will be available from Donegal County Council from next Thursday.

Minister McHugh says new affordable housing measures introduced by Minister Murphy will help build a sustainable future for the people of Donegal.

Annual gross income cannot exceed €50,000 as a single applicant or €75,000 as joint applicants with a cap on the value of the home available for purchase.

The new Affordable Purchase Scheme is a national scheme - homes will be built initially on State land in co-operation with local authorities, enabling people buy their own home, supported and in partnership with the State.

While for renters, an Affordable Rental Scheme has been announced meaning rent paid will cover the cost of building the property together with ongoing management and maintenance charges, but with a minimal profit margin.