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Annuity Loans


Applications for Annuity Loans are assessed in accordance with the Housing (Local Authority Loans) Regulations 2009.

You may be eligible to apply to Roscommon County Council for a loan from if:

  • You cannot get a mortgage from a building society or bank to purchase of build a house. The Council will not consider any application for a loan unless the applicants have genuinely sought and have received refusals from two lenders and produce documentary evidence to this effect.
  • The applicant or spouse, whether individually or jointly, must not have previously purchased or built a house for his/her occupation and neither applicant can be a current owner of property. Applicants must be aged between 18 and 70 years of age.
  • Single applicants must not be earning more than €50,000 and the combined income of joint applicants must not be greater than €75,000.
  • The primary earner on the application must have at least two years continuous employment and the second applicant must have at least one year.
  • Applicants must have credible savings record.
  • Applicants must be of good credit standing with a satisfactory credit record.
  • The property must have a gross internal floor area of 175 square metres or less.

Amount of Loan

The maximum sum which may be advanced for the acquisition or construction of a house shall not exceed €220,000. The maximum loan-to-value (LTV) ratio is 97%. The maximum mortgage loan in each case is to be determined by the local authority in accordance with the credit policy subject to the €220,000 limit, LTV limit, and subject to the purchaser's ability to repay. Repayments on a mortgage advanced cannot exceed 35% of disposable after tax income. The maximum loan term is 30 years.

Annuity Loan Application Form.pdf (size 213.7 KB)