Home improvement Loan

A home improvement loan can be issued for essential improvements to a persons’ sole residence, where the works carried out will make significant improvement to the living conditions of the property. Applicants must own the dwelling to which the works will apply.

In order to qualify you must also meet an income eligibility test, which takes into account the principal earners income together with any second earner’s income in the household.

A single earner’s income for the previous tax year must be below €40,000. If there is a second earner in the household the following formula applies:

The principal earner’s income x 2.5 + second earner’s income must be below €100,000.

The maximum loan available is € 38,000 (€ 50,000 for offshore islands). This loan is repayable over 7, 10 or 15 years at a variable interest rate.

Note: Galway County Council do not do consolidation loans or top ups.

Key Criteria

Galway County Council can only issue home improvement loans greater than € 15,000 where it has first charge on the property.
The maximum home improvement loan is € 38,000 subject to capacity to repay.
Loans greater than € 15,000 are subject to a lien on the property. (where Galway County Council has first charge on the property).
Loans are only available to the homeowner(s)

Please note : the House Improvement Loan is not available to those in receipt of unemployment/social welfare benefits.