Mortgage from Dublin City Council

lew1s

Hi,

Does anybody has Mortgage from Council? I would like to get a mortgage for €150,000 and buy a apartment in Dublin for €180,000. I have €30,000 so thats nearly 30%.

I tried two banks but from this year new rule is 3.5 x yearly income which I have €30,000. So banks can give me only €105,000.

Does anybody tried Dublin City Council Mortgage?

Michael D Not Higgins

30k is only 17% of 180k. It's nearly half of the 30% you claim.

I don't know of any scheme currently being run for mortgages from the council. Nonetheless, were they to exist, they could not sidestep the mortgage lending regulations just like the banks.

riclad

Council had a mortgage scheme, your income had to be under x amount the property had to be under a certain value. look on the council website. The property had to be in good structural condition . http://www.dublincity.ie/main-menu-services-housing/apply-mortgage looks like its still avaidable. it has to be a property in dublin .

You may have to pay for a survey on the property to prove its in good condition to the council.

Have been refused by two lending agency’s for mortgage approval and be able to show evidence of refusal
Be in a position to provide a 10% deposit on the property i.e. on a loan of €220,000 applicants must have a minimum deposit of €22,000.

apply for a loan from 2 banks and keep all the letters you get re application,
is it accepted ,refused .

Michael D Not Higgins

I'm almost sure that's an old scheme and isn't running anymore. Someone else may correct me though.

riclad

affordablehousing.unit@dublincity.ie
01) 222 5449
housing ,loans, Sales and Consents Section,

ring or email them,
Ask is this scheme still going,
last time my friend used it to buy a house in 2006 the income limit was 35k,
now its 50k.