Mortgage payment break available for council home loans

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Galway residents who have made use of the city or county council’s home loan schemes can receive a three month break in mortgage payments if they have been badly affected by the coronavirus pandemic.

Local authority borrowers who have seen a reduction in income, or expect to, as a result of the current coronavirus crisis can apply for a Mortgage Payment Break of up to three months.

The Mortgage Break means that people who have a home loan from the city or county council will not have to make any repayments for a three month period.

The scheme is open to those who anticipate being unable to make their repayments, as well as anyone who has fallen into arrears from March 2020

No additional interest will accrue to the borrowers account during the period of the break to ensure the borrower doesn’t incur any additional cost.

However, according to the department guidelines, at the end of this break payments will resume at a higher adjusted level to facilitate the repayment of the loan within its existing term.

People who wish to apply for a mortgage break must complete an application form and return it by email or post to the relevant council office.

Either email or post to: Loans Section, Debt Management Unit, Finance Department, Galway City Council, City Hall, College Road, Galway for the city council.

County Council customer should email or post to: Loans Section, Finance Section, Galway County Council, County Hall, Prospect Hill, Galway.

These forbearance measures have been put in place at the direction of Minister for Housing, Planning and Local Government Eoghan Murphy.

Councils have also been asked by the department to defer court actions for the duration of the Coronavirus emergency.