What is the Mortgage Allowance Scheme?

This is a social housing choice which helps tenants and tenant purchasers of our homes, who wish to return their homes to us and purchase or build a private home of their own.  It does this by reducing their mortgage repayments over the first five years of their mortgage. 

How does the Mortgage Allowance Scheme work?

The amount of the allowance is €11,450 payable over five years.  The allowance is paid directly to the lending agency. This results in your mortgage repayments in the first five years being reduced by the relevant annual amount of the allowance.  

• €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. You must continue to occupy the private home as your normal place of residence throughout the 5-year period to which the allowance relates.

You may be eligible to avail of this scheme if you are:

  1. One of our tenants, or a tenant purchaser, and wish to buy a private house or build your own house and return your present house to us or
  2.  A tenant of a house for more than 1 year provided by a voluntary body under the Rental Subsidy Scheme, who wishes to buy a private house or build your own and return your present house to the voluntary body.

How do I apply?

• Application forms are available from us and are processed by us. 
• Provisional approval is issued first by us in the form of a letter of intent.  
• If we are the lender, we send the forms to the Department of Housing, Local Government and Heritage (DHLGH).
• If an outside agency is the lender, a certificate of approval issued by us is given to the lending agency for them to send to Department of Housing, Local Government and Heritage (DHLGH).

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