New Hope Scheme
Aim of the Scheme
The New Hope Scheme is intended to provide an effective remedy to individuals or couples who, despite being eligible for a home loan and deemed bankable by local commercial banks, do not qualify for a life insurance protection policy.
A valid life insurance policy is a common requirement by local commercial banks when securing a home loan. To address this, this scheme provides a loan guarantee of up to €250,000 to individuals or couples who cannot obtain a life insurance policy due to past life-threatening illnesses or medical conditions.
Beneficiaries of this scheme will be required to pay a yearly contribution fee equivalent to the amount that would have been paid on a life insurance policy.
2
Life insurance providers refused the applicant
12 Months
Insurance application deferred
250%+
Average policy premium quoted
€250k
Maximum home value insured