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A Rebuilding Ireland Home Loan is a new Government backed mortgage for first time buyers. It is available nationwide from all local authorities from 1st February 2018.

As a first time buyer you can apply for a Rebuilding Ireland Home Loan to purchase a new or second-hand property, or to build your own home.

The loan is a normal capital and Interest-bearing mortgage which is repaid by direct debit on a monthly basis.

You can borrow up to 90% of the market value of the property.

Maximum market values of the property that can be purchased or self-built are:

€320,000 in the counties Cork, Dublin, Galway, Kildare, Louth, Meath and Wicklow.

€250,000 for the rest of the country.

Please note: the property you wish to purchase must be located in your Local Authority administrative area. 

Rebuilding Ireland Home Loans are subject to lending terms and conditions, and who meet the following eligibilty criteria:

  1. First Time Buyers (exceptions may apply e.g. for legally separated or divorced applicants)
  2. Single applicant's income must be less than €50,000
  3. Joint applicants' combined income mst be less than €75,000
  4. The primary earner on the application form must be in continuous employment for at least two years (this can be self-employment) and the second applicant must have at least one year’s continuous employment. Certain exceptions can be considered
  5. Aged between 18 and 70 years (i.e. loan term must cease by the time the borrower reaches 70 years of age)
  6. Applicants must prove that they have sought a mortgage from two lenders (banks or building societies) and have received inadequate funding offers or refusals from each before making an application for a Rebuilding Ireland Home Loan to Dun Laoghaire Rathdown County Council
  7. All applicants will be interviewed by Dun Laoghaire Rathdown County Council before the application is forwarded to the Housing Agency for adjudication

The maximum loan amount that may be advanced (subject to lending terms and conditions) is €288,000 over a maximum term of 30 years.  The maximum loan-to-value ratio is 90%. The maximum mortgage loan in each case will be determined by the local authority in accordance with lending terms and conditions, the €288,000 limit, loan-to-value limit and subject to the purchaser’s ability to repay. All applications will be assessed based on the applicant(s) current income, their existing loans and financial commitments. For successful loan applications an additional monthly mortgage protection insurance fee is levied. 

 

                                      How do I Apply?

Applicants must complete the Rebuilding Ireland Home Loan application form and return it to:

Loan Section

Housing Department

Dun Laoghaire Rathdown County Council

County Hall, Marine Road, Dún Laoghaire Co Dublin

01 2047058

Remember:

Applicants must prove that they have sought a mortgage from two lenders (banks or building societies) and have received inadequate funding offers or refusals from each before making an application for a Rebuilding Ireland Home Loan to Dun Laoghaire Rathdown County Council.

PLEASE NOTE THAT INCOMPLETE APPLICATIONS WILL NOT BE PROCESSED AND WILL BE RETURNED TO THE APPLICANT(S)

Further information is available on the Rebuilding Ireland Website at www.rebuildingirelandhomeloan.ie.

The Help desk number for Rebuilding Ireland Homeloan is 051 349 720.

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