Buying a Local Authority House FAQs
How is outright purchase financed?
The purchase price will be payable at the point of sale and the tenant, as purchaser, will be responsible for raising the necessary finance.
As many persons find it difficult to obtain mortgages and in order not to waste anyones time, Meath County Council Housing Department are not releasing Tenant Purchase application forms without documentary evidence of Pre-Loan Approval based on income, or evidence of savings sufficient to purchase a property.
If you are applying for Pre-Loan Approval, the amount you will be allowed borrow will be based on your income and savings. As a general rule all financial institutions (including Meath County Council) carry out credit checks on loan applicants.
If you wish to apply to the Council for a loan, Meath County Council will not accept any application for ‘Pre-Loan Approval’ until you have been first refused by two other financial institutions. It should be noted, however, if you are refused a loan by two independent financial institutions this is no guarantee that you will be approved for a loan by Meath County Council. The Council carries out similar credit rating checks to most other financial institutions, and must also be satisfied that you are able to meet mortgage repayments without incurring financial hardship.
To apply for ‘Pre-Loan Approval’ from Meath County Council you should contact the Loans Section directly on (046) 909 7420 once you have two independent valid refusal letters.
