Rebuilding Ireland Home Loan
If you are a first time buyer, intending to build, or buy a new or second hand home you may qualify for the Rebuilding Ireland Home Loan Scheme.
Helpline for enquiries: 051 349720
Rebuilding Ireland Home Loan Information
First Time Buyers of new and second hand homes (and self-build) may apply for a Rebuilding Ireland Home Loan up to a maximum of €225,000 over a maximum term of 30 years, subject to lending terms and conditions, and who meet the following eligibility criteria:
- First Time Buyers (exceptions may apply e.g. for legally separated or divorced applicants)
- Single applicant’s income must be less than €50,000
- Joint applicants’ combined income must be less than €75,000
- 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.
- Aged between 18 and 70 years (i.e. loan term must cease by the time the borrower reaches 70 years of age).
- 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 Kerry County Council.
- All applicants will be interviewed by Kerry 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 €225,000 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 €225,000 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 to apply:
Applicants must complete a Rebuilding Ireland Home Loan application form which is available for download here and return it to:
Kerry County Council,
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 Kerry County Council.
For more information including a loan calculator please click http://rebuildingirelandhomeloan.ie/
Helpline for enquiries 051 349720
By Post: Housing Department
Kerry County Council,
By Telephone: (066) 7183910
By email: [email protected]
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Email: [email protected]