The portal for online applications for Affordable Purchase Housing at Hereford Park, Leixlip is now closed. There will be future opportunities for affordable housing in the Kildare County Council area which will be advertised on our website and social media channels as they become available.
What is the Affordable Housing Scheme?
Under the ‘Local Authority Affordable Purchase Scheme’, Kildare County Council is making new homes available for purchase by eligible applicants at reduced prices. In return, Kildare County Council will take a percentage equity stake in the Affordable Purchase home. The Council’s equity stake will be equal to the discount of the purchase price from the full market value of the home. For example, if an eligible applicant purchases a home at a 20% discount, Kildare County Council will take a 20% equity interest in the home.
How does the Scheme work?
The main points of the Scheme are as follows:
- The Scheme is for first time buyers (along with some exceptions) who cannot afford to purchase a home at market value.
- The Scheme applies to specific new-build houses and apartments.
- The Affordable Home will be the principal private residence of the purchaser.
- Applicants who are married, in a civil partnership or in a committed relationship with a partner with whom he/she they intend to live in the affordable dwelling, may not apply for an affordable dwelling on his/her their own but must apply jointly his/her their spouse/partner.
- To participate in the Scheme, applicants will be required to maximise their mortgage drawdown capacity (four times a household income), from a participating bank, lender or Local Authority Home Loan. Participating banks include Bank of Ireland, Allied Irish Bank, Permanent TSB, EBS and Haven Mortgages.
- The maximum financial support (equity share), available on each home will be established by Kildare County Council.
- The equity share range available on this scheme can be viewed here.
- All purchasers must sign up to an ‘Affordable Dwelling Purchase Arrangement’ with Kildare County Council. Under this arrangement the Council will take a percentage equity share in the dwelling, equal to the difference between the market value of the dwelling and the price paid by the purchaser, expressed as a percentage of the market value of the dwelling.
- The equity share required will not be less than 5% of the market value of the dwelling.
- The purchaser can buy out this equity share at a time of their choosing but there will be no requirement to do so.
- The Council may not seek realisation of its affordable dwelling equity for a 40- year period (other than for breach of the agreement). However, the purchaser may choose to redeem or buy out the affordable dwelling equity at any time by means of one or a series of payments to the Council. The minimum amount of redemption payment is €10,000.
- If the purchaser chooses not to redeem the equity share while living in the home, the local authority can do so when the property is sold or transferred, or after the death of the owner.
Am I eligible for this Scheme?
In order to be eligible to apply for an Affordable Housing Scheme, applicants must satisfy the following criteria.
- Each applicant must be a First-Time Buyer or meet the exceptions under the Fresh Start Principle or own a dwelling which, because of its size, is not suited to the current accommodation needs of the applicant’s household.
- The affordable home must be the household’s normal place of residence.
- Applicants’ purchasing power must not exceed 95% of the market value of the property.
- Each person included in the application must have the right to reside indefinitely in the State. A secondary joint applicant may be considered as part of a joint application provided, they have obtained permission to remain in Ireland (that is not temporary), irrespective of length of prior residence whereby they are married/in civil partnership with.
- A) Irish/UK citizens habitually resident in the State
- B) Non-EU/EEA citizens who meet the minimum periods of residency required as noted above.
In such cases, evidence of this via submission of valid residency card and letter from the Department of Justice confirming conditions of residency is required.