Housing Covid-19 Information

Covid 19 – Mortgage Payment Break for Local Authority Borrowers

The Minister for Housing, Planning and Local Government, Mr Eoghan Murphy TD, confirmed on 14th April 2020 that forbearance arrangements have been put in place for local authority mortgage products.

“Measures to support local authority home loan borrowers have now been agreed. These measures will ensure that a mortgage payment break of up to three months will be made available to local authority borrowers who are in need of it.”

On 26th June 2020 further additional arrangements were announced to support local authority borrowers who are experiencing financial distress arising out of the continuing COVID-19 emergency.   These consist of:

  • A further mortgage payment break for local authority borrowers from 3 to 6 months.
  • Introduction of a 15 working day decision period to accept mortgage payment break.
  • Closing date of 30 September 2020 for applying for an initial mortgage payment break.

On the 29th of September Minister for Housing Planning and Local Government Mr Darragh O’Brien T.D. announced further arrangements were put in place to support local authority borrowers who are experiencing financial distress arising out of the continuing COVID-19 emergency.   These consist of:

  • Introduction of a third mortgage payment break for local authority borrowers bringing the total of the three mortgage payment breaks up to a maximum of 9 months
  • The closing date for application, for an initial mortgage break was extended to 31st December 2020

The approach being rolled out will ensure that no additional costs to the original home loan balance will arise for the borrower who avails of these measures, as borrowers are not charged interest for the period of the breaks. These breaks are available to those who have already faced mortgage difficulties due to the COVID-19 emergency and those who may encounter difficulties in the near future.  The Closing Date for applying for your first Mortgage Payment Break is 31st December 2020.

Any borrower currently on a Mortgage Payment Break, or who has previously availed of a  Mortgage Payment Break can apply for a further period up to a maximum combined period of 9 months. 

The ability to avail of Mortgage Payment Breaks which are not back to back will apply up until and including the closing date of 31 December 2020.   From 1 January 2021, only Mortgage Payment Breaks that are back to back will be facilitated.

Any borrower facing difficulties due to COVID-19 are urged to contact Kerry County Council, Housing Loans Department as soon as possible by email to loans@kerrycoco.ie or by ringing 066- 7183910

Please note the following documents attached:

Initial Mortgage Payment Break – Application Form

Additional Mortgage Payment Break – Application Form

Frequently Asked Questions for Mortgage Payment Break

 

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