Housing loans and allowances

What is the Mortgage Allowance Scheme?

This scheme helps people who live in council housing (or similar housing) and want to buy or build their own private home. If you give your council home back to the local authority, the scheme helps reduce your mortgage payments for the first five years.

How Much Help Do You Get?

You get a total of €11,450, spread over five years. The money goes straight to your mortgage lender, reducing your monthly payments like this:

• Year 1: €3,560
• Year 2: €2,800
• Year 3: €2,040
• Year 4: €1,780
• Year 5: €1,270

Note: The allowance can’t be more than your actual mortgage payment, and you must live in the new home for the full five years.

Do You Qualify?

You can apply if:

• You’re a tenant or tenant purchaser of a local authority home, or
• You’ve been renting for at least one year from a voluntary housing body under the Rental Subsidy Scheme, and
• You return your current home in good condition, with no rent or payment owed, and
• You’re taking out a mortgage of at least €38,092 to buy or build your new home.

How to Apply

• Fill out the official application form from your local council.
• If you qualify, the council will give you a letter of intent confirming your eligibility.

• It’s important to get this letter before you commit to buying or building a new home.

  Mortgage allowance FAQs.pdf (PDF, 96.26KB)

  
   

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 LAHL, including eligibility criteria, can be found at http://localauthorityhomeloan.ie

How to apply

Applicants must complete a Local Authority Home Loan application form and return it to

Housing Loans

Galway County Council
Áras an Chontae 
Prospect Hill
Galway 
H91 H6KX

What is it?

This is a government-backed loan to help you buy and fix up an empty or run-down home. The home must qualify for the Vacant Property Refurbishment Grant.

What’s the Vacant Property Refurbishment Grant?

It’s a grant (free money) to help you turn a vacant or derelict property into your main home. You can get:

• Up to €50,000 for standard renovation costs
• An extra €20,000 (top-up) if the work costs more than €50,000

Who is this loan for?

If you want to buy and/or renovate a home that qualifies for the grant, but can’t get enough money from a bank, you can apply for this loan from your local council.

Where to find more info?

You can get full details, including who qualifies and how to apply, at purchaseandrenovationloan.ie 

How to apply:

Applicants must complete a Local Authority Purchase and Renovation Loan application form