Local Authority Home Loan
The Local Authority Home Loan (LAHL) is available for people who are unable to obtain sufficient funding from commercial banks to purchase or build a home. The loan can be used both for new and second-hand properties, or to self-build. Full details of the Local Authority Home Loan, including eligibility criteria, can be found at http://localauthorityhomeloan.ie
How to apply:
Applicants must complete a Local Authority Home Loan application form which is available for download here and return it to:
Galway City Council, City Hall, College Road, Galway. H91 X4K8
Local Authority Purchase and Renovation Loan
The Local Authority Purchase and Renovation Loan is a Government backed mortgage and loan for the purchase and renovation of derelict and non-habitable homes. The property must be eligible for the Vacant Property Refurbishment Grant, whether derelict, non-habitable or simply vacant.
If you wish to purchase and/or renovate a Vacant Property Refurbishment Grant eligible home but cannot get sufficient funding from commercial lenders you can apply to your local authority for a Local Authority Purchase and Renovation Loan.
Full details of the Local Authority Purchase and Renovation Loan, including eligibility criteria, can be found at https://purchaseandrenovationloan.ie/
How to apply:
Applicants must complete a Local Authority Purchase and Renovation Loan application form which is available for download and return it to:
Galway City Council, City Hall, Galway H91 X4K8
Mortgage Allowance Scheme
The Mortgage Allowance Scheme is a social housing option which assists tenants and tenant purchasers of local authority dwellings, who wish to return their dwellings to the authority and purchase or build a private dwelling for their own occupation. It does this by reducing their mortgage repayments over the first five years of their mortgage. The amount of the allowance is €11,450 payable over five years. The allowance is paid directly to the lending agency and results in your mortgage repayments in the first five years being reduced by the relevant annual amount of the allowance, i.e.
- €3,560 in the 1st year
- €2,800 in the 2nd year
- €2,040 in the 3rd year
- €1,780 in the 4th year
- €1,270 in the 5th year
The allowance paid in any year cannot exceed the amount of the mortgage repayments, and the applicant must continue to occupy the private dwelling as his/her normal place of residence throughout the 5-year period to which the allowance relates. Please contact the Loans Section for further information.