REBUILDING IRELAND HOMELOAN SCHEME
Tipperary County Council is lending to first time buyers. This is through the government's 'Rebuilding Ireland Homeloan Scheme. All local authorities across the country are lending to first time buyers. For more information -
To be eligible applicants must inter alia:
Be aged between 18 years and 70 years.
If it is a sole applicant his or her gross earnings for the previous tax year must be under €50,000.
If it is a joint application, both incomes together must not exceed €75,000 gross for the previous tax year.
Applicants must be in continuous employment for two years.
Applicants must have a good credit record.
Applicants must have an indefinite right to remain in Ireland.
Applicants must provide evidence of insufficient offers of finance from two financial institutions.
Applicants must not own or have owned property before, either in the Republic of Ireland or elsewhere.
Applicants must have at least a 10% deposit of the purchase price.
The property must be no larger than 175 square metres.
For more information - https://www.tipperarycoco.ie/housing/rebuilding-ireland-home-loan.
LOCATION OF PROPERTY
The property the applicant(s) wishes to buy must be in the local authority area of the local authority the applicant(s) applies to for finance.
WHEN MAY APPLICATIONS BE MADE?
Applications may be made from 1st February 2018.
HOW MUCH CAN I BORROW?
In Tipperary, an applicant can borrow up to 90% of the market value of a residential property. The greatest value of a property is €250,000. So the largest loan available is €225,000.
TYPE OF PROPERTY
The loan is available for new properties, second hand properties and for self builds.
At the moment the interest rate options that are available to applicants are:-
2% fixed for up to 25 years ( APR 2.02%)
2.25% fixed for up to 30 years (APR 2.27%)
2.3% variable(subject to fluctuation) up to 30 years (APR 2.32%)
The loan is a normal mortgage. So, the applicant repays capital and interest by monthly direct debit payments.
If you need any help on this contact us on (052) 6125350 or email firstname.lastname@example.org.