The Rebuilding Ireland Home Loan was replaced by the Local Authority Home Loan on 4 January 2022. The Local Authority Home Loan is a Government-backed mortgage for creditworthy applicants who cannot get sufficient funding from commercial banks to purchase or build a home. The loan is available nationwide from local authorities for first-time buyers and fresh start applicants. The loan can be used both for new and second-hand properties, or to self-build.
Single applicants must not have earned greater than €70,000 annual gross income in the previous tax years, while joint applicants must not have earned greater than €85,000 annual combined gross income in the previous tax year.
The income limits for Fresh Start applicants are the same as for all other applicants. The scheme income limits were unchanged in Budget 2024.
I will continue to keep the Local Authority Home Loan under review to ensure it remains a genuine and relevant support for people who want to own their own home.
Further information on the scheme is available on the dedicated website localauthorityhomeloan.ie/.