Mortgage Redemption Statement

Laois County Council mortgage holders, who wish to pay their mortgage in full, can apply to the local authority for a redemption figure to confirm the amount of the mortgage outstanding.

  1. I wish to pay my loan in full
  2. I wish to pay my affordable loan in full
  3. Consent to Sale
  4. Clawback 
  5. How do I request a Statement of Account

I want to pay my loan in full, what are the steps? 

If you currently have a loan and you wish to redeem it, please note the following: 

  • You will need to contact the Finance Department, Housing Loans Section on housingloans@laoiscoco.ie or phone 057 868 9322. 
  • If you have an ‘Affordable Loan’ Please see below note in relation to same.

If I have an ‘affordable loan’ and I wish to sell it, what are the steps? 

If you purchased an 'affordable house' originally, a discount was given to you, therefore if you wish to sell your property and redeem the loan in full you: 

Consent to sale 

  • The first step of this process would only take place once you have lined up a potential buyer. 
  • Your solicitor writes to Laois County Council Housing Department and requests a consent to sale application form.  
  • Solicitor completes form and submits it to the Housing Department, Michael Ennis. Contact email: mennis@laoiscoco.ie  
  • The decision of ‘Consent to Sale’ would be in the hands of the Housing Section if all is in order. 

Clawback

  • When the customer was granted their Affordable Housing Loan originally, a discount was given on the market value of the property. This discount was based on a percentage of the market value.  
  • If this property is sold within 10 years, a percentage of the selling price would be payable to Laois County Council, in addition to the amount outstanding on the loan at that time. 
  • If this property is sold within 10-20 years, a fraction of this percentage is payable to Laois County Council (based on a sliding scale, the amount payable can be reduced by 10% in respect of each complete year after the 10th year during which the person who purchased the property has been in occupation as his or her normal place of residence) in addition to the amount outstanding on the loan. If you do not reside in the house, the discount is not applicable.  
  • Please contact our office email housingloans@laoiscoco.ie providing us with the selling price so that we can prepare an estimated redemption figure, including any clawback, if applicable.  
  • On the week you wish to redeem your loan in full your solicitor must contact this office via email housingloans@laoiscoco.ie, with a copy of Signed Contract of Sale stating the selling price, for us to prepare a final estimated redemption figure prior to your payment. 

How do I request a Statement of Account for my loan? 

Further information

For further information please contact housingloans@laoiscoco.ie