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Mortgage Allowance Scheme
From Department of Housing, Local Government and Heritage
Published on
Last updated on
From Department of Housing, Local Government and Heritage
Published on
Last updated on
The Mortgage Allowance Scheme was introduced to assist householders who are tenants or tenant purchasers of local authority houses to become owner-occupiers of other dwellings.
An allowance of up to €11,450 is payable directly to the lending agency over a 5-year period and your repayments are reduced accordingly for the first 5 years of the mortgage. Your mortgage may be from a commercial lending agency or from a local authority.
You may be eligible if you are:
The house must be suitable for your needs, meet certain minimum standards and be acceptable to the local authority. The amount of the mortgage must be at least €38,092.14.
The allowance is paid directly to the lending agency and your mortgage payments are reduced in each of the first 5 years as follows:
| Year 1 | €3,560 |
| Year 2 | €2,800 |
| Year 3 | €2,040 |
| Year 4 | €1,780 |
| Year 5 | €1,270 |
| Total | €11,450 |
The allowance paid in any year cannot exceed the amount of the mortgage repayments.
Instalments of the Mortgage Allowance payment are processed by the Department of Housing, Local Government and Heritage for payment directly to mortgage accounts of individuals.
To apply you must contact your Local Authority.