Print this PageMortgage and Rent Subsidies
Mortgage Subsidy
Mortgage subsidy assists purchasers with mortgage repayments. This support is income related, the purchaser must earn less than €28,000 (before tax and social insurance is deducted) per year.
The approved amount of the mortgage subsidy is deducted from the monthly installment due on the loan, leaving the net amount to be payable by the purchaser. A mortgage subsidy is not payable in addition to the mortgage allowance. The relative benefits of the mortgage subsidy or the mortgage allowance will depend on the income of the purchaser. Household income is defined as the total income of the owners of the affordable home.
Rent Subsidy
The purpose of rent subsidy is to reduce rent payment for lower income households. Rent subsidy is only relevant to the purchasers under the Shared Ownership Scheme. Borrowers whose household income is less than €28,000 (before tax and social insurance is deducted) are eligible for a rent subsidy on their non-equity share.
As of January 2006, the rent subsidy ranges from €1,050 to €2,550 per annum. Purchasers under Shared Ownership may be eligible for rent and mortgage subsidy but cannot avail of both mortgage subsidy and mortgage allowance.
The table below shows the amount of rent subsidy for each income band from 1st January 2006.
| Household Income - € | Annual Subsidy Payable - € |
| 13,000 and under | 2,550 |
| 13,001 to 15,500 | 2,300 |
| 15,501 to 18,000 | 2,050 |
| 18,001 to 20,500 | 1,800 |
| 20,501 to 23,000 | 1,550 |
| 23,001 to 25,500 | 1.300 |
| 25,501 to 28,000 | 1,050 |
