The Mortgage Allowance Scheme is an allowance of up to €11,450 payable over a 5 year period to tenants or tenant purchasers of local authority houses. The allowance is also available to tenants of housing associations in housing provided under the Rental Subsidy Scheme who are buying or building a house with a mortgage.
The allowance is paid directly to the lending agency and your repayments reduced accordingly for the first five years of the mortgage. Your mortgage may be from a commercial lending agency or a local authority.
Your annual income must be less than €28,000 a year and you must have a mortgage of 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 five years as follows;
| Year | Allowance per year |
| First | €3,560 |
| Second | €2,800 |
| Third | €2,040 |
| Fourth | €1,780 |
| Fifth | €1,270 |
The allowance paid in any year, cannot exceed the amount of the mortgage repayments.
If you are buying a house under the Shared ownership scheme, you are not eligible for the Mortgage Allowance Scheme.
The house must be suitable to your needs, meet certain minimum standards and be acceptable to the local authority.
You may be eligible if you are:
Contact your local authority for more information.