Affordable Housing FAQs
Am I entitled to other benefits?
If you are earning less than € 28,000 a year (before tax and social insurance are taken off) or if you are a tenant of a Local Authority or Voluntary Housing Association, you may qualify for help with your mortgage payments (see below).
A mortgage subsidy is help with your mortgage payments. To qualify, your household income needs to have been less than €28,000 (before tax and social insurance is taken off) in the previous tax year. Household income is the total income of the owners of the affordable home. If you qualify for a mortgage subsidy your monthly mortgage repayments will be reduced.
Mortgage Allowance Scheme
The mortgage allowance scheme is an allowance of €11,450 to go towards your mortgage, paid over a five-year period. If you are a tenant of the Local Authority, or you are buying the home you previously rented from the Local Authority, and you want to buy an affordable home, you may qualify for the mortgage allowance scheme.
The allowance is paid directly to the lender providing your mortgage and your repayments are reduced for the first five years of the mortgage. The allowance paid in any year cannot be more than the total mortgage repayments due in that year.
You may qualify for the mortgage subsidy and the mortgage allowance scheme, but you can only claim for one of them. Which of these benefits you most will depend on your income.