Intro Text 

A Rebuilding Ireland Home Loan is a Government backed mortgage for first time buyers. It is available nationwide from all local authorities.

You can apply for this loan to:
• Buy a new home.
• Buy a second-hand home.
• Build your own home.

The loan is a normal capital and interest-bearing mortgage, which you repay by monthly direct debit.
You can borrow up to 90% of the market value of the home. The maximum market value of the home that you can buy, or self-build is €320,000 in Dublin.
Please note: The home you wish to buy must be in our administrative area.

These loans are subject to lending terms and conditions. The following eligibility criteria apply:

1. First Time Buyers (exceptions may apply).
2. Single applicant's annual gross income must be less than €50,000.
3. Single applicant must be in continuous employment for at least two years. Exceptions may apply.
4. Joint applicants' total annual gross income must be less than €75,000.
      • The primary earner on the application form must be in continuous employment for at least two          years. 
      • If the second applicant is working he/she must have at least one year’s continuous                               employment.
      • Exceptions may apply.
5. Aged between 18 and 70, the loan term must end by the time you reach 70 years of age.
6. Must prove you have:
        • Looked for a mortgage from two lenders (banks or building societies).  Letters must be dated          within 6 months of applying for a Rebuilding Ireland Home Loan.
        • Have received too little funding offers or refusals before applying for a loan with us.
7. Be of good standing with a satisfactory credit record (a credit check will be carried out with the Irish Credit Bureau and / or the Central Credit Register and the courts).
8. Have an indefinite right to remain in Ireland either through nationality or refugee status.
9. Have a minimum deposit of 10% of the purchase price of the property.
10. Applicants must satisfy any other conditions and/or requirements, as stipulated by the local authority.
11. We will send the application to the Housing Agency. The Council’s Credit Committee will make a decision on your application.

The maximum loan that may be advanced is €288,000 over a maximum term of 30 years.  The largest loan-to-value ratio is 90%. The largest mortgage loan in each case will be determined by us per:

• lending terms and conditions,
• the €288,000 limit,
• the loan-to-value limit,
• subject to the person’s ability to repay, and
• applicants must have a credible savings record of a minimum of 12 months duration immediately prior to making an application.

We will assess you based on:
• your current income,
• your existing loans,
• your financial commitments and
• in accordance with the Credit Policy

For successful loan applications an added monthly mortgage protection insurance (MPI) fee is charged. This is a requirement of borrowing. The Local Authority MPI scheme is a group scheme. It is required for all borrowers who meet the eligibility criteria to join the scheme.

How do I apply?

Return your completed Rebuilding Ireland Home Loan application form to:

Loan Section,
Housing Department,
Dún Laoghaire - Rathdown County Council,
County Hall Marine Road,
Dún Laoghaire,
Co. Dublin.
01 2047058

Remember:

Before applying for a Rebuilding Ireland Home Loan with us you must prove:
• You have looked for a mortgage from two lenders.
• Have received too little funding offers or refusals from each.

PLEASE NOTE THAT INCOMPLETE APPLICATIONS WILL NOT BE PROCESSED AND WILL BE RETURNED TO YOU.

The Rebuilding Ireland Website has further information, including the application form. www.rebuildingirelandhomeloan.ie.

Help desk number: Phone  051 349 720.

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