Housing Loans Update
Update: 21st December 2021
The Local Authority Home Loan Scheme will replace the Rebuilding Ireland Home Scheme from 4th January, 2022.
All applications submitted on or after 4th January 2022 must be on the new LAHL Application Form and will be assessed under the new Housing Loans Regulations 2021 and associated Local Authority Home Loan Credit Policy Guidelines 2021.
This change will have no adverse effect on applications already received by Waterford City & County Council.
The new Local Authority Home Loan Application Form is available from :
A Local Authority Home Loan is a Government backed mortgage for first time buyers or other eligible applicants through local authorities. The scheme is for the purchase of new or second-hand residential properties and for self-builds. It also includes the purchase of homes through State schemes such as the Tenant Purchase Scheme and Affordable Housing Schemes, with the exception of the First Home Scheme.
The "Fresh Start" principle means that people who are divorced or separated and have no interest in the family home, or who have undergone personal insolvency or bankruptcy arrangement or proceedings or other legal process, will be eligible to apply.
The Local Authority Home Loan is available nationwide from all local authorities from 4th January 2022.
The 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.
Maximum market values of the property that can be purchased or self-built are:
To be eligible for a Local Authority Home Loan you must:
Eligibility is subject to submission of a complete Local Authority Home Loan application form and confirmation by your local authority.
If you think you are eligible and can afford the repayments on the amount you need to borrow, you can complete a Local Authority Home Loan application form.
You must complete all sections of the application form and provide the supporting documents described in the applicant checklist. For more information see www.localauthorityhomeloan.ie where prospective applicants can use the Information Booklet and the updated FAQ section for information, or where they require further information, use the new Contact Us form on the website to contact the LAHL team directly where we will answer their query OR alternatively contact the Housing Loans Department, Waterford City & County Council on 058 22025.
Your application form must be signed by all applicants and submitted to your local authority. Applicants are strongly advised to submit their applications in person, as posted applications are often not completed correctly and have to be returned. Your application will be assessed and you will be advised of the decision in writing.