Mortgage Allowance Scheme


The Mortgage Allowance Scheme was introduced to assist householders who are tenants or tenant purchasers of local authority houses to become owner-occupiers of other dwellings.

An allowance of up to €11,450 is payable directly to the lending agency over a 5-year period and your repayments are reduced accordingly for the first 5 years of the mortgage. Your mortgage may be from a commercial lending agency or from a local authority.

How to Qualify

You may be eligible if you are:

  • a local authority tenant or a tenant purchaser and you want to buy a private house and return your present house to the local authority. However, if you are buying a house under the Shared Ownership Scheme, you are not eligible for the Mortgage Allowance Scheme
  • a housing association tenant for more than 1 year in housing provided under the Rental Subsidy Scheme, and you are giving up your tenancy and taking out a mortgage to buy or build a private house

The house must be suitable for your needs, meet certain minimum standards and be acceptable to the local authority. The amount of the mortgage must be at least €38,092.14.

Rates

The allowance is paid directly to the lending agency and your mortgage payments are reduced in each of the first 5 years as follows:

Year 1 €3,560
Year 2 €2,800
Year 3 €2,040
Year 4 €1,780
Year 5 €1,270
Total €11,450

How to Apply

The Local Authority Home Loan Administrator, currently Marie Tynan, is the contact in Laois County Council for the Mortgage Allowance Scheme.

Contact details are as follows:

Tel:   (057) 867 4337,

email: housinghomeloan@laoiscoco.ie

Further information on the scheme is available at the following link:

https://www.gov.ie/en/service/b66ea-mortgage-allowance-scheme/#how-to-qualify