Eligibility

Eligible applicants will be required to verify their eligibility for affordable housing scheme by submitting the relevant documentation. Once your eligibility is verified we will assess your purchasing power.  Affordable Housing schemes make homes available at a reduced price for buyers who are seeking to purchase a newly built home but need to bridge the gap between their mortgage and deposit to cover the full price of the home. It is recommended that applicants have their Mortgage Approval in Principle prior to applying for Affordable Housing, or at least be in a position to apply for a mortgage. The criteria for eligibility include but are not limited to the below:

1. Each person included in the application must currently live in Ireland and have the right to reside indefinitely in the State.  
2. This initiative is targeted at first-time buyers and ‘fresh start’ applicants. Details about the ‘Fresh Start Principle’ is available here. 
3. Applicants “purchasing power” must not exceed 95% of the market value of the property. 
4. The typical gross household income must be below a certain level. This is calculated by multiplying your gross income by 4. This figure must then be less than 85.5% of the market value of the home. Alternatively, you must have proof from a bank or financial institution that you cannot get a mortgage for 85.5% of the market value of the home. All income that is assessable can be viewed here. 
5. The income limits will differ depending on the properties being sold and this information will be included in South Dublin County Council’s advert.   

Market Value and Income Limit for Kilcarbery Affordable Housing Scheme Phase 2a

While it is not a requirement, it is recommended that applicants have their Mortgage Approval in Principle prior to applying for Affordable Housing, or at least be in a position to apply for a mortgage.  

A minimum deposit of 10% of the purchase price of the property will also be required so applicants should ensure they have sufficient savings before applying. First time buyer applicants can avail of the Help to Buy Scheme. This is operated by the Revenue Commissioners. For more information please see; https://www.revenue.ie/en/property/help-to-buy-incentive/index.aspx. Please note that you must be borrowing 70% of the purchase price of the property. Funding received from the State as part of a Shared Equity Scheme does not form part of this calculation. 

Please be advised that if you are applying as a Fresh Start applicant, you will be required to have a minimum of 20% deposit as per the Central Bank lending rules.