The Local Authority Home Loan Scheme has replaced the Rebuilding Ireland Home Scheme from 4th January, 2022. All applications submitted on or after 4th January 2022 must be on the new LAHL Application Form and will be assessed under the new Housing Loans Regulations 2021 and associated Local Authority Home Loan Credit Policy Guidelines 2021.
The new Local Authority Home Loan Application Form and related documents are available from the Local Authority Home Loans Website below.
A Local Authority Home Loan is a Government backed mortgage for first time buyers or other eligible applicants through local authorities. The scheme is for the purchase of new or second-hand residential properties and for self-builds. It also includes the purchase of homes through State schemes such as the Tenant Purchase Scheme and Affordable Housing Schemes, with the exception of the First Home Scheme. To be eligible for a Local Authority Home Loan you must:
- Tipperary – Maximum market values of the property that can be purchased or self-build is €250,000
- You can borrow up to 90% of the market value of the property
- Be First Time Buyers and neither applicant can have previously purchased or be a current owner of a residential property. With the exception of applicants qualifying under the Fresh Start Principle and those who have inherited residential property. An LPT check will be completed at application stage.
- be aged between 18 and 70 years
- Be earning under €50,000 (gross) in previous tax year as a single applicant as joint applicants have an annual gross income of not more than €75,000(gross)
- Be in continuous employment (this can be self-employed) for at least two years in the case of the primary earner and in continuous employment for one year in the case of a secondary applicant (if second applicant is employed). With the exemption of those applying who qualify under the Temporary Amendments in Light of Economic Impacts of COVID-19 (see FAQ).
- submit two years certified accounts if self-employed
- provide proof of insufficient mortgage offers of finance from two regulated financial providers
- not be a current or previous owner of residential property in or outside the Republic of Ireland, unless you are a "Fresh Start" applicant - The "Fresh Start" principle means that people who are divorced or separated and have no interest in the family home, or who have undergone personal insolvency or bankruptcy arrangement or proceedings or other legal process, will be eligible to apply.
- occupy the property as your normal place of residence
- purchase or self-build a property situated in the Republic of Ireland
- purchase or self-build a property which does not exceed the maximum market value applicable for the county in which it is located
- Consent to a Central Credit Register check
- currently have a legal right to reside and work in the State and be able to demonstrate that they are habitually resident in Ireland
If you think you are eligible and can afford the repayments on the amount you need to borrow, you can complete a Local Authority Home Loan application form. You must complete all sections of the application form and provide the supporting documents requested to your local authority. Once your application is received an appointment will be arranged to discuss your application. Eligibility is subject to submission of a complete Local Authority Home Loan application form and confirmation by your local authority.
For more information see www.localauthorityhomeloan.ie which contains all details relating to the Home Loan; together with FAQ an Information Pack or alternatively contact the Housing Loans Department, Tipperary County Council on 0818 06 5000.