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Waterford Senator says council loans for homes too low

The market value of homes purchased with a Local Authority loan must be increased.

So says Waterford Senator, John Cummins.

Speaking in the Seanad this morning, Senator Cummins said €250,000 is too low for Waterford.

Senator Cummins is calling for properties up to €300,000 to be considered, closer in line with Cork.

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"It's my contention that the threshold of €250,000 for the counties outside of Dublin, Cork, and the commuter belt are too low," he said.

Despite there being 114 affordable homes built inΒ Summerfields and Deerpark, people are being discouraged from buying them due to cost.

"The issue that's been brought to my attention by the Local Authority is the fact that for the home loan it's based on the market value of the property as opposed to the affordable purchase price," Seantor Cummins said.

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