Mortgage Allowance Scheme

1. How do I qualify?
2. How do I apply?
3. Further information

What is the 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 do I 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: 

How do I 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

For further information on the scheme please visit:

Mortgage Allowance Scheme