The Local Authority Home Loan was launched in January 2022. It is a Government backed mortgage for those who cannot get sufficient funding from commercial banks to purchase or build a home. It is available to first-time buyers and fresh start applicants to purchase a new or second-hand property, or to self-build. The Local Authority Home Loan has a maximum annual gross income limit for single applicants of €65,000 in Cork, Dublin, Galway, Kildare, Louth, Meath and Wicklow and €50,000 in the rest of the country and a combined maximum of €75,000 for joint applicants for all counties.
My Department is currently reviewing these limits to ensure that the scheme remains relevant in the current housing market and will take this into consideration as part of that review. Decisions on all housing loan applications must be made in accordance with the Regulations establishing the scheme and the credit policy that underpins the scheme, in order to ensure prudence and consistency in approaches in the best interests of both borrowers and lending local authority. The final decision on Local Authority Home Loan applications is a matter for the relevant local authority. Further information can be found on the dedicated website: localauthorityhomeloan.ie/