Local Authority Home Loan (LAHL)
The Local Authority Home Loan is a Government backed mortgage product designed to assist first time home buyers or other eligible applicants who cannot secure sufficient commercial lending support to make a home purchase. The scheme facilitates the purchase of new or second-hand residential properties and the construction of self-builds. In general these properties are located and selected by the applicants after they have secured an approval in principle. It can also be used to purchase a home through State schemes such as the Tenant Purchase Scheme and Affordable Housing Schemes, with the exception of the First Home Scheme.
The Local Authority Home Loan is different to what existed before because:
- A "Fresh Start" principle applies, allowing that people who are divorced or separated and can demonstrate no interest/liability in the previous family home, and those who have undergone personal insolvency or bankruptcy arrangement or proceedings or other legal process, may now apply.
- A single person can be earning up to a maximum of 65 thousand euros gross per annum.
The Local Authority Home Loan is a normal Capital and Interest-bearing mortgage which is repaid by direct debit on a monthly basis. You can borrow up to 90% of the market value of the property. The maximum property value for which this loan may be used is 320 thousand euros. Borrowers will be contractually obliged to keep up repayments on their loan, and to pay per schedule and by means defined by the Local Authority.
The Rebuilding Ireland Home Loan is now withdrawn, and all new applications must use this product.
For further details see the Local Authority Home Loan Borrower website etc.
Local Authority Home Loan Website
Contact Telephone Number: 051 349720
House Purchase Loan Application Form attached below
To discuss your loan application please contact
Housing Loans Finance Section, Buvinda House, Dublin Road, Navan, Co. Meath. C15 Y291
Contact Telephone Numbers: 0469097420 / 0469097422 / 0469097446