Mayo councillors approve €2.29m in borrowings for home loans

Members of Mayo County Council have approved borrowings of €2,290,000 for House Purchase Loans under the Local Authority Home Loan and Local Authority Purchase and Renovation Schemes. 

Management informed councillors at their April meeting that the borrowings will be drawn down as the need arises to fund the issue of mortgage loans to customers and that the loan charges on the borrowings will be funded from mortgage repayments by the council's mortgage customers and, consequently, should not have any adverse impact on the council's finances. 

Director of Services Catherine McConnell advised that 11 mortgage applications were made and seven drawn down in 2025, with one approval to date in 2026. Cllr Donna Sheridan pointed out that the schemes provide an opportunity for people unable to get a mortgage provider to apply through the council in order to get on the property ladder.

• Published as part of the Local Democracy Reporting Scheme.