Local Authority Home Loan
The Local Authority Home Loan (LAHL) is available for people who are unable to obtain sufficient funding from commercial banks to purchase or build a home. The loan can be used both for new and second-hand properties, or to self-build. Full details of the Local Authority Home Loan, including eligibility criteria, can be found at http://localauthorityhomeloan.ie
How to apply:
Applicants must complete a Local Authority Home Loan application form which is available for download here and return it to:
Loan Accounts and Sales Scheme Section,
Housing , Social and Community Development,
South Dublin County Council
MORTGAGE PROTECTION INSURANCE
It is a mandatory requirement of South Dublin County Council that all applicants qualify for and have the approved Local Authority Mortgage Repayment Protection Plan (MRPP) Group Insurance Scheme in place before a loan can be issued.
Entry Criteria for the MRPP Group Scheme
At the point of joining the MRPP Scheme the borrower(s) must meet with the following;
- Has attained the age of 18 years but not 70 years
- Was at work, and
- Has not been prescribed, taken or been advised to take and medication or treatment for pre-existing medical conditions in the last 12 months for a period of more than 3weeks (colds, influenza, backache, and oral contraceptive pill may be ignored) and
- Was not under the care of a consultant or specialist, or due to attend a hospital follow up or awaiting any medical referral, medical investigation, medical test results, surgical procedure or consultant, specialist or hospital appointment and
- Not been declined for Life, Disability or Private Medical Insurance and
- Continues to reside in the property covered by the agreement.
If you do not keep up your repayments you may lose your home. The cost of your monthly repayments may increase.
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.
You may have to pay charges if you pay off a fixed-rate loan early.
Mortgage Allowance Scheme
The Mortgage Allowance Scheme assists tenants and tenant purchasers of local authority dwellings who wish to return their dwelling to the authority and purchase or build a private dwelling for their own occupation. The amount of the allowance is €11,450 payable to the lending agency over 5 years.
Applications should be made to the Local Authority for the area in which the private dwelling is being purchased or built.
(See related documents below for Mortgage Allowance Scheme application form)