All you need to know about Rebuilding Ireland Home Loan

Rebuilding Ireland Home Loan is a Government backed mortgage for first time buyers. It is available nationwide from all local authorities from 1st February 2018.

As a first time buyer you can apply for a Rebuilding Ireland Home Loan to purchase a new or second-hand property, or to build your own home.The loan is a normal Capital and Interest-bearing mortgage which is repaid by direct debit on a monthly basis.You can borrow up to 90% of the market value of the property.

Maximum market values of the property that can be purchased or self-built are:

  • €320,000 in the counties of Cork, Dublin, Galway, Kildare, Louth, Meath and Wicklow, and
  • €250,000 in the rest of the country.

Warning: If you do not keep up your repayments you may lose your home.  The cost of your monthly repayments may increase.  You may have to pay charges if you pay off a fixed-rate loan early.If you do not meet the repayments on your loan, your account will go into arrears. This may affect your credit rating, which may limit your ability to access credit in the future.

How do I apply for Rebuilding Ireland Home Loan?

If you think you are eligible and can afford the repayments on the amount you need to borrow, you can complete a Rebuilding Ireland Home Loan application form.You must complete all sections of the application form and provide the supporting documents described in the applicant checklist.


 1. Be First Time Buyers and neither applicant can be a previous owner or current owner of a property.

 2. Be aged between 18 and 70 years.

3. Be earning under €50,000 (gross) in the previous tax year as a single applicant or in the case of a joint application both incomes should not be greater than €75,000 (gross) in the previous tax year.

4. Be in continuous employment (this can be self employed) for at least two years in the case of the primary earner and in continuous employment for one year in the case of a second applicant (if second applicant is employed).

5. Be of good standing with a satisfactory credit record (a credit check will be carried out with the Irish Credit Bureau and the courts before loan approval is granted).

 6. Have an indefinite right to remain in Ireland either through nationality or refugee status.

7. Be able to provide proof of insufficient offers of finance from two financial institutions (Bank or Building Society lenders only).

8. Have a minimum deposit of 10% of the purchase price of the property

 9. Provide proof of marital status (if divorced, legal documents must be submitted).

10. If you are renting, you must have a clear rent account for 6 months prior to applying for the loan and your rent assessment must be up to date. If you meet all of the above criteria you will be eligible to submit an application

Please note: The property you wish to purchase must be located in your Local Authority administrative area

Your application form must be signed by all applicants and submitted to your local authority. Applicants are strongly advised to submit their applications in person, as posted applications are often not completed correctly and have to be returned.

Your application will be assessed and you will be advised of the decision in writing. Lending criteria, terms and conditions apply. Security and Insurance required. Further information on how to apply is available from our help desk at 051 349720 (8am to 5pm – Monday to Friday) or from your local authority. Once submitted, all queries in relation to your application and the decision should be directed to your local authority.

What are the interest rate options?

A Rebuilding Ireland Home Loan offers two fixed interest rate products:

  • 2.745% fixed for up to 25 years (APR 2.78%)*
  • 2.995% fixed for up to 30 years (APR 3.04%)*

* Rates are subject to change. Mortgage rates are set on the date of drawdown of your loan.

All rates are exclusive of Mortgage Protection Insurance (MPI) which is a requirement of borrowing. Eligible borrowers are required to partake in the local authority collective MPI scheme. MPI is payable monthly, in addition to loan repayments.

If you choose a fixed interest rate product:

  • Your monthly repayments remain the same for the full fixed rate loan period, making budgeting easier – but during the fixed rate period, you may be liable for a breakage fee if you pay off all or part of your mortgage.

You should seek independent financial advice on which product is most suitable for you.

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