Local Authority Home Loans

Local Authority Home Loans

Louth County Council provides a Housing Loan called the Local Authority Home Loan.  

The Application Form available below is to be completed for all Local Authority Home Loan applications. This form sets out the eligibility criteria and contains a checklist for submission of an Application.  

An appointment must be made to submit your Local Authority Home Loan Application in person.  Please do not submit applications by post. 

To make an appointment, please email housingloans@louthcoco.ie 

The current Fixed Interest Rates applicable for all Loan Applications are:

  • for loans with terms of up to 25 years a Fixed Interest Rate of 2.495% shall apply;
  • for loans with terms of up to 30 years a Fixed Interest Rate of 2.745% shall apply.

Local Authority Home Loan Application Form

The following link is for the Local Authority Home Loan website for all information relating to Local Authority Home Loans www.localauthorityhomeloan.ie 

For information on the Appeals Procedure for a Local Authority Home Loan, please contact the Housing Loan Section.

Mortgage Arrears Resolution Process (MARP)

At Louth County Council we know that some of our customers are experiencing financial difficulties.

You may be worried about your ability to keep up with your mortgage repayments while living on a reduced income. If you are having difficulty meeting your mortgage repayments or anticipate having difficulty, we would like to work with you to find a way to help you manage your situation.

Louth County Council has introduced a five step process called the Mortgage Arrears Resolution Process or MARP to help support mortgage customers who are in arrears or are at risk of going into arrears. This also applies to customers where an alternative repayment arrangement already in place, breaks down or expires. The protection of the Code applies to your residential property, which you occupy as your family home.

Arrears Support Unit:

Louth County Council have dedicated Mortgage Arrears Support Staff who are available to discuss any concerns you may have with meeting your mortgage repayments. 

In order to assess your situation we will ask you to submit an Application Form (size 55.8 KB) and a Standard Financial Statement (SFA) (size 66 KB) to the Arrears Support Unit. In the Standard Financial Statement (SFA) you will need to set out your monthly income and bills. Your local MABS office can assist you with this. You will also be asked to provide back-up documents as proof of income/ expenditure.

Next Steps:

Once you have submitted your application the Council will examine your specific arrears case. A letter will be issued to you detailing their decision and if your application is deemed to be successful, details of any new revised mortgage terms. If you are happy with this you can sign and return the form or alternatively contact the office to arrange a meeting to discuss. Warning, your home is at risk if you do not keep up repayments on your mortgage.

Appeal:

If you are not happy with the decision of the Arrears Support Unit you have the right to appeal to the Louth County Council Credit Committee.

A letter appealing the decision of the Arrears Support Unit must be sent within twenty working days to: Ms Bernadette Woods, Head of Finance, Louth County Council, Millennium Centre, Dundalk Co. Louth. The Appeal will be assessed by the Credit Committee within twenty eight working days and you will be informed of their decision in writing.

Repossessions:

Repossession of a house is the least desirable option for the home owner and Louth County Council. However if the borrower fails to co-operate in the process of re-negotiating their loan this option may be exercised by the Council. In certain circumstances where the loan is unsuitable, voluntary surrender or repossession are the only options.

Please be advised that all costs associated with the process and any shortfall, should the proceeds of the sale not cover the amount of the loan outstanding, will fall on the borrower.

Download our booklet: Sorting it Out, A guide to resolving your mortgage arrears. 

Local Authority Home Loan Mortgage Payment Break

To assist Local Authority home loan borrowers who may experience a reduction in their income arising from the COVID-19 emergency and may not be able to make repayments on their loans, a Mortgage Payment Break of up to three months will be made available to those who need it.  For more detailed information, please follow links below

Additional Mortgage Payment Break

If you have already availed of a mortgage payment break, and are still experiencing a reduction in income arising from COVID-19 emergency, a further 3 month payment break may now be applied for. For more detailed information please follow the links below

All queries on the Payment Break should be emailed to loanspaymentbreak@louthcoco.ie