Local authority mortgages
Information
If you are unable to get a loan from a building society or bank, you may be eligible for a mortgage from your local authority.
The loan can be up to 97% of the price of the house subject to a maximum loan of €220,000 and subject to repayments which are no more than 35% of the household net income (i.e. income after tax and PRSI).
A local authority mortgage will be an annuity mortgage with variable interest rates so repayments will go up and down with general interest rates.
Rules
You may be eligible for a local authority mortgage if you can show the local authority that you cannot get a loan from a bank or building society and you are:
- A first time buyer and
- Your income satisfies the income test - see below
The income test
Single income household
- If your gross income (before tax) in the last income tax year was €50,000 or less, you are eligible.
Two income households
- If your combined gross income (before tax) in the last income tax year was €75,000 or less, you are eligible
How to apply
Contact your local authority.
Language
Related Documents
- Local authority home improvement loans
Local authority loans are available to owner-occupiers towards the cost of necessary works to improve, repair or extend their houses. - Shared Ownership Scheme
This scheme enabled low-income purchasers to buy a proportion of a home to begin with, increasing in steps until the whole house was owned. It has now been stood down. - Mortgage Interest Supplement
Mortgage Interest Supplement is a payment made by the Department of Social Protection. It provides short-term support to help you pay your mortgage interest repayments.
Contact Us
If you have a question relating to this topic you can contact the Citizens Information Phone Service on 0761 07 4000 (Monday to Friday, 9am to 8pm) or you can visit your local Citizens Information Centre.