Alan Dillon (Mayo, Fine Gael)
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31. To ask the Minister for Housing, Planning, and Local Government the guidelines in respect of local authority home loans; the income requirements for County Mayo; and if he will make a statement on the matter. [61113/22]

Darragh O'Brien (Dublin Fingal, Fianna Fail)
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The Local Authority Home Loan is a Government backed mortgage for those on modest or low incomes who cannot get sufficient funding from commercial banks to purchase or build a home. It has been available nationwide from local authorities since 4 January 2022 for first-time buyers and fresh start applicants. The loan can be used both for new and second-hand properties, or to self-build.

As part of the eligibility criteria, applicant(s) of the Local Authority Home Loan must have received insufficient offers of finance from two regulated financial providers to apply for a Local Authority Home Loan. The loan enables credit worthy first time buyers and fresh start applicants to access sustainable mortgage lending to purchase new or second-hand properties or to self-build in a suitable price range. 

To be eligible for a Local Authority Home Loan one must: 

- be a first-time buyer; 

- be aged between 18 and 70 years; 

- be in continuous employment for a minimum of two years, as the primary earner or be in continuous employment for a minimum of one year, as a secondary earner 

- as a single applicant have an annual gross income of not more than €65,000 in counties Cork, Dublin, Galway, Kildare, Louth, Meath and Wicklow and be earning under €50,000 in all other counties;  

- as joint applicants have an annual gross income of not more than €75,000 combined in all counties; 

- submit two years certified accounts if self-employed; 

- provide evidence of insufficient offers of finance from two regulated financial providers; 

- not be a current or previous purchaser of residential property in or outside the Republic of Ireland, unless you are a “Fresh Start” applicant; 

- applicants are required to declare that they are a first-time buyer. They must authorise the Local Authority to conduct such checks as are necessary to confirm this, such as conducting Local Property Tax check. 

- occupy the property as your normal place of residence;

- purchase or self-build a property situated in the Republic of Ireland which does not exceed the maximum market value applicable for the county in which it is located. The maximum house price is €320,000 in Dublin, Louth, Wicklow, Wicklow, Meath, Cork and Galway, and €250,000 in the rest of the country. ? 

- consent to an Central Credit Register check. 

- currently have a legal right to reside and work in the State and be able to demonstrate that they are habitually resident in Ireland 

Eligibility is subject to submission of a complete Local Authority Home Loan application form and confirmation by your local authority. 

For Mayo specifically, as it is in the area of the country where the €250,000 house price limit applies, the income limit for joint applicants is €75,000 and for individual applicants it is €50,000.

The final decision on Local Authority Home Loan applications is a matter for the relevant local authority. Decisions on all housing loan applications must be made in accordance with the Regulations establishing the scheme and the credit policy that underpins the scheme, in order to ensure prudence and consistency in approaches in the best interests of both borrowers and the lending local authority. 

Further information on the scheme is available on the dedicated website: localauthorityhomeloan.ie/