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Good Financial Standing

Applicant(s) must:

Deposit amount

Please note: Personal savings must be accumulated over a period of at least 12 months before you make your application. You must provide certified or original bank or similar statements (post office, credit union, etc.) clearly showing a credible and consistent record of savings. Unidentified lump sum lodgements made to a savings account within the 12-month period will not be considered when computing the deposit.

Maximum Loan amount and term

Interest Rate

A Local Authority Home Loan offers two fixed interest rates:

A fixed interest rate mortgage is a loan where the interest rate stays the same throughout an agreed period. The Local Authority Home Loan interest rate is fixed for the full term of the mortgage. This means that your loan repayments are the same every month for the lifetime of the mortgage. Interest rates are subject to change at any time before the drawdown of a Local Authority Home Loan. The interest rate is determined by the applicable rate on the date of drawdown and is fixed for the full term.

Borrowing Record

Where the applicant(s) have a previous or existing borrowing record, this will be considered as part of the application for the Local Authority Home Loan.