Minister for Housing Darragh O’Brien will seek Government approval today to expand the local authority home loan for first-time buyers.
The loan is currently only available for homes that are habitable and does not cover renovation costs.
The Cabinet is expected to give the green light to a new local authority purchase and renovation loan, which will be available within weeks.
This is an expansion of the local authority home loan scheme and will be open to all homes, including those that are vacant and derelict.
These properties would also be in line to receive refurbishment grants.
The local authority home loan allows people to borrow up to 90% of the market value of a property.
The maximum house prices that qualify for these loans range from €275,000 to €360,000 depending on which county the home is located.
Sinn Féin Housing Spokesperson Eoin Ó Broin said his party had no objection to the changes set to be announced.
However, Mr Ó Broin questioned its timing during an election week and said it did not solve the underlying problem, which is a shortage of social and affordable homes.
