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.
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.
The loan is a normal Capital and Interest-bearing mortgage which is repaid by direct debit on a monthly basis.
You can borrow up to 90% of the market value of the property.
Maximum market values of the property that can be purchased or self-built are:
- €320,000 in the counties of Cork, Dublin, Galway, Kildare, Louth, Meath and Wicklow, and
- €250,000 in the rest of the country
Warning: If you do not keep up your repayments you may lose your home. The cost of your monthly repayments may increase. You may have to pay charges if you pay off a fixed-rate loan early. If you do not meet the repayments on your loan, your account will go into arrears. This may affect your credit rating, which may limit your ability to access credit in the future.
Am I Eligible?
To be eligible for a Local Authority Home Loan you must:
- Be a first-time buyer
- Be aged between 18 and 70 years
- Be in continuous employment for a minimum of two years as the primary earner, or be in continuous employment for a minimum of one year as a secondary earner (see Temporary Amendments in Light of Economic Impacts of Covid-19 under What is continuous employment? on the FAQ page, click here.)
- Be earning no more than €50,000 (gross) for a single applicant and a combined income of no more than €75,000 (gross) for joint applicants
- Submit two years certified accounts if self-employed
- Provide proof of insufficient mortgage offers or refusals of finance from two regulated financial providers. Letters must be dated within 12 months of the application and the amount equal to or less than the loan amount sought
- Not be a current or previous owner of residential property in or outside the Republic of Ireland, unless you are a "Fresh Start" applicant
- Applicants are required to declare that they are first time buyers. They must authorise the Local Authority to conduct such checks as are necessary to confirm this, such as conducting Local Property Tax check
- 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
Eligibility is subject to submission of a complete Local Authority Home Loan application form (available to download here) and confirmation by your Limerick City and County Council.
For information on interest rates and how much you can borrow please visit localauthorityhomeloan.ie.
How do I Apply?
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 available to download here.
You must complete all sections of the application form and provide the supporting documents described in the applicant checklist.
Your application form must be signed by all applicants and submitted to the Local Authority Home Loan Section of Housing Support Services, Limerick City and County Council. Applicants are strongly advised to submit their applications in person, as posted applications are often not completed correctly and have to be returned.
Your application will be assessed and you will be advised of the decision in writing. Lending criteria, terms and conditions apply. Security and Insurance required.
Further information on how to apply is available from the Local Authority Home Loan help desk at 051 349720 (8am to 5pm - Monday to Friday) or from Limerick City and County Council on (061) 557047. Once submitted, all queries in relation to your application and the decision should be directed to Limerick City and County Council.
Important Notice on LPT check: A Local Property Tax check is carried out by the Local Authority. The LPT check will compare the applicant(s) PPSN against a database of people registered for the Local Property Tax to confirm eligibility as a first time buyer.
For further information on the Local Authority Home Loan, including 'How much can I borrow', 'Interest Rates' and FAQ, please visit the website localauthorityhomeloan.ie.
Fully completed Application Forms should be forwarded to:
Limerick City and County Council
Local Authority Home Loan Section
Housing Support Services
Limerick V94 EH90
For Local Authority Home Loan enquiries please contact Limerick City and County Council on (061) 557047 or email: email@example.com.
Please note: Incomplete application forms will be returned.