Deputy Catherine Ardagh will later today introduce the Life Annuity (Ireland) Bill 2026 to Dáil Éireann, which establishes a regulated pathway for homeowners aged sixty and over to exchange an interest in their home for a lump sum and ongoing payments while retaining the right to live there for the rest of their lives.
The proposed legislation provides a comprehensive legal and regulatory framework for lifetime property transactions, offering a transparent and secure alternative to traditional equity release products that often carry high and punitive interest rates and complex terms.
The Bill introduces a regulated mechanism similar to international models, such as the Viager system in France, allowing homeowners to transfer an interest in their primary residence in exchange for a lump sum and periodic payments.
A central pillar of the legislation is the statutory protection of the vendor’s right of residence, alongside strict regulation of the periodic period, ensuring they can remain in their properties for the remainder of their lives with full legal certainty.
Speaking on the introduction of the Bill, Deputy Ardagh stated:
“This legislation addresses a critical gap in the Irish housing and financial market by offering a solution that prioritises the dignity and financial independence of senior citizens. For many people, their home is their primary asset, yet they often find themselves cash-poor in retirement.
“While we recognise that this model will likely appeal to a small minority of people who find themselves in this specific situation, the core purpose of the Bill is to regulate what has been a heretofore unregulated area.
“By formalising these arrangements, we are protecting vulnerable people and giving them equity release options. This allows them to take care of themselves financially while retaining full control over their living situation.
“We are already seeing people engage in these types of arrangements in an unofficial capacity; this Bill recognises that reality and brings it into a formalised structure. By regulating this space, we are providing much-needed security and offering significantly more protections for the homeowner than currently exist.
“This Bill creates a fair, regulated pathway for people to unlock the value of their homes without the burden of compounding debt, allowing them to age at home with access to an income.”
To ensure the highest level of consumer protection, the Bill mandates that all vendors receive independent legal and financial advice before entering into an agreement. It also establishes a thirty-day cooling-off period and requires all agreements to be registered with the Property Registration Authority to be enforceable.
The Life Annuity (Ireland) Bill 2026 is designed to reduce financial pressure on citizens in their later years by providing a clear statutory basis for these transactions, the Bill seeks to modernise the Irish property landscape and offer more options to those who wish to release equity from their homes in later life.
ENDS