Loans / Grants
- Shared Ownership Loan
- House Purchase / House Building Loan
- House Improvement Loan
- Sample Loan Repayments
- Loan for the purchase of Caravan by Traveller
- Mortgage Allowance Scheme
- Affordable Housing
- Housing Adaption Grant Scheme for People with a Disability
- Mobility Aids Housing Grant Scheme
- Housing Aid for Older People Grant Scheme
Shared Ownership Loan
Persons are eligible if they are:
- tenants/tenant purchasers of Local authority dwellings who are returning their rented dwelling;
- included in the local authorities assessment of housing needs;
- their income does not exceed € 50, 000 for a single applicant or € 75,000 for joint applicants.
The application is processed in two stages, provisional approval stage and final approval stage. Provisional approval stage determines eligibility and amount of loan facility. At final approval stage the house selected is assessed by the Local Authority and if satisfactory the purchase proceeds.
Loan
Term: 25 years
Maximum Loan: € 220,000
Interest Rate: 3.81% Variable
Eligibility based on income -
loan facility available:
The rent repayable is 4.3% of the rented equity value for the first year.
This rent is increased annually by a fixed 4.5% on the 1st of July.
Rent Subsidy - applicable to Shared Ownership rent accounts only.
Certain households may qualify for an annual subsidy towards rent.
The qualifying band is dependent on the date the rent account commenced.
Account holders will be requested to submit income details in May/June
of each
year in order to carry out this recalculation. Subsidy entitlements
are
then advised in late June.
The following rates are applicable to loans commenced on or after 01/01/2006.
| Household Income | Subsidy per annum. |
|---|---|
| € 13,000 and under | € 2,550 |
| € 13,001 - € 15,500 | € 2,300 |
| € 15,501 - € 18,000 | € 2,050 |
| € 18,001 - € 20,500 | € 1,800 |
| € 20,501 - € 23,000 | € 1,550 |
| € 23,001 - € 25,500 | € 1,300 |
| € 25,501 - €28,000 | €1,050 |
| Over € 28,000 | NIL |
Please note that a minimum rent of € 2.00 per week will be payable regardless of subsidy entitlement.
An applicant, once approved for subsidy in a particular band, will not be moved to a lower subsidy band until any increase in income amounts to at least three times the amount of the consequent reduction in subsidy.
House Purchase / House Building Loan
This loan is available to eligible persons to purchase or build their own home. All applicants for this loan must first have applied to a Building Society and/or Bank.
Qualifying income limits: €50,000 for single applicant and € 75,000 for joint applicants.
Loan Term: 30 years (may be shortened)
Maximum Loan: € 220,000.
Interest Rate: 3.81%
variable
House Improvement Loan
This loan is for works to improve the structure of a house.
The following income eligibility test applies: two and a half times principal earner's income plus once any subsidiary income is less than €100,000.
Loan Term: 15 years (maximum term)
Maximum Loan: €38,000
Interest Rate: 3.25%
variable
Sample Loan Repayments:
Repayments per month per 1,000 borrowed @ 3.25% over a 15-year period:
€7.03
All loans in excess of €15,000 require a charge
against the property. The legal fees in relation
to the drawing
up of
the Deed of Charge
will be
met by the applicant.
Loan for the purchase of Caravan by Traveller
Present Maximum Loan: €6,350
Interest Rate: Variable
Interest Rate (Currently 3.25%)
This loan is to facilitate a Traveller in purchasing a Caravan for occupancy. The applicant must contribute at least 10% of the purchase price of the caravan (i.e. €635 in the case of a €6,350 loan). The caravan must be located on a bay provided by the local authority or in a location which has been approved in advance by the local authority. The caravan must be purchased from a reputable supplier who is registered for VAT purposes or holds a current tax clearance certificate. Before any loan or grant can be approved the local authority must be satisfied that the caravan being purchased represents value for money and that it meets the housing needs of the applicant.
A grant of 10% of the purchase price of the caravan is available to first time buyers only.
Click here to contact the Housing Section for further details
Mortgage Allowance Scheme
Local Authority tenants who surrender the Council house they occupy to buy or build a private house can avail of an allowance of €11450 from the Department of the Environment and Local Government. The allowance is paid directly to the lending agency.
The property purchased or built must meet the housing needs of the family concerned and any mortgage entered into must be for €38092 or more to qualify for inclusion in the scheme.
Further details of this scheme can be obtained from:
Housing Section, Civic Offices, Nenagh.
Telephone: 067 44844
Affordable Housing
Buying your own home - Is it a problem for you?
Can you afford to buy a house for yourself and your family? Have escalating prices put the purchase of a house beyond your reach? If so, why not consider Affordable Housing.
Under the 1999 Affordable Housing Scheme a single applicant can earn up to €40,000.00. For a two income household, eligibility is based on the combined values of 2.5 times the larger salary plus the smaller salary. This combined income must be no greater than €100,000.00.
Application Forms can be downloaded from the Forms page
Further details of this scheme can be obtained from:
Housing Section, Civic Offices, Nenagh
Telephone: 067 44862
Click here to view Your Affordable Home Handbook - PDF Document
(760KB)
Housing Adaption Grant Scheme for People with a Disability
The Housing(Adaption Grants for People with a Disability and Older People), Regulations 2007, became effective from 1st November 2007, and introduced three new housing grant schemes to replace the Disabled Persons Grant Scheme and Essential Repairs Grant Scheme.
The Housing Adaptation Grant Scheme for People with a Disability will assist with the provision/adaptation of accommodation to meet the needs of people with a disability, and, as with the other grants, is funded jointly by the Department of Environment, Heritage & Local Government and North Tipperary County Council. A total of 50 grants were paid in 2010, in respect of approved applications. At the 31st December, 2010, 14 approved applications, together with 36 unapproved applications were on hand.
Mobility Aids Housing Grant Scheme
The Mobility Aids Housing Grant Scheme will assist with adaptations to address mobility problems primarily associated with ageing. A total of 62 grants were paid in 2010, in respect of approved applications. At the 31st December, 2010, 6 approved applications, together with 22 unapproved applications were on hand.
Housing Aid for Older People Grant Scheme
This grant scheme will provide targeted support to improve poor conditions in the existing housing of older people. 126 applications were received for this grant scheme in 2010. Due to the high level of applications, an Implementation Scheme was adopted by the Council in July 2008, and all applications are considered by reference to that Scheme. A total of 97 grants were paid in 2010, in respect of approved applications. At the 31st December, 2010, 11 approved applications, together with 199 unapproved applications were on hand.
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