Information on Affordable housing
The Affordable Housing Scheme is a scheme in Ireland that aims to help lower income households to buy their own homes .Mortgages.ie and our partner lender Haven mortgages are delighted to offer great rates for your affordable home.
Apply on line today and get pre approved for your affordable home mortgage!
The current list of available affordable housing developments is as follows.
Click here.... Affordable housing listing
What is an Affordable Home?
Following the dramatic price rise in houses in recent years, many individuals and couples found that house prices in many areas were well beyond their means and were simply unaffordable. In response to this dilemma the government introduced a scheme to ensure that a certain amount of new house contruction was set aside for houses and apartments whose price was in the reach of individuals on lower incomes.+
What Types of Affordable Homes are Available?
The properties available are generally
- one-, two- and three-bedroomed apartments
- two- and three-bedroomed houses
Affordable housing properties are all available at prices that are much lower than the market value. Typical discounts are approximately 20% less than open market value.
Where are Affordable Homes Provided?
Most affordable homes are in private developments. Usually, a percentage of all houses or apartments in a private development are made available to be sold as affordable homes. These are sold at a discount to other houses and apartments in the development.
Another way of providing affordable homes is to build them on land the local authority owns. Land owned by the Government has also been made available for affordable homes. Check with your local authority for details.
Will you qualify for affordable housing?
To qualify for you should:
- be a first-time buyer (but there are some exceptions, for example if you are separated or divorced)
- have enough income to meet your mortgage repayments after you have paid all your other costs
- as a guide, earn between €25,000 and €58,000 if you are applying on your own and up to €75,000 between both of you if you are applying with someone else. These are the approximate limits only – lower and higher income limits may apply.
Affordable housing is for genuine home seekers only. It is not for people looking to make a property investment. If you buy an affordable home, you must live in it. You cannot rent out your home. You may rent out a room under the 'Rent a Room Scheme',
provided your home has more than one bedroom.
How Do I Apply for an Affordable Home?
You apply to the local authority in the area you want to live in. You can apply to more than one local authority. Local authorities include county councils, city councils, borough councils and town councils.
All local authorities have application forms for affordable homes. They may charge an application fee so check with your local authority.
Please view this link to view contact details for your local authority http://www.affordablehome.ie
What Happens Once I Apply?
The local authority will assess your application for affordable housing to decide whether you qualify for an affordable home. They will send you a letter explaining the outcome of your application. Some Local Authorities may ask you to go to a meeting to discuss your application in more detail.