Kerry County Council has received 245 applications for the Rebuilding Ireland Home Loan programme since its introduction.
The programme began in February 2018 and these figures cover up until September 30th this year.
The government-backed scheme provides mortgages to first-time buyers who’ve been refused a mortgage or were offered insufficient finance.
Rebuilding Ireland Home Loan applicants can borrow up to 90% of the market value of the property.
In Kerry, the maximum market value of property, that can be purchased or self-built, is €250,000.
Processing of applications was suspended at the end of March due to COVID-19, but resumed in June.
245 applications have been received by Kerry County Council since February 2018.
Of these, 18 applications were deemed to be ineligible under the terms of the scheme, while 34 didn’t progress due to insufficient information, further information not being provided or the application being withdrawn.
A further 48 are being assessed, while 76 have been approved and 69 applications have been declined.
Since the scheme began, 33 loans to the value of €3.9 million have been drawn down.
The figures were contained in the Chief Executive of Kerry County Council Moira Murrell’s report which was presented at the budget meeting; she expects activity will grow in 2021.
