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 €70,000 (gross) for a single applicant and a combined income of no more than €85,000 (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 6 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
- Declare that you are a first-time buyer(s) and authorise the Local Authority to conduct such checks as are necessary to confirm this, such as conducting Local Property Tax check. This check will compare the applicant(s) PPSN against a database of people. registered for the Local Property Tax to confirm eligibility
- 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 and confirmation by Tipperary County Council.
For information on interest rates and how much you can borrow please visit: www.localauthorityhomeloan.ie
