Purchase Price

The affordable purchase price will be calculated by South Dublin County Council based on the “purchasing power” of eligible applicants. This calculation considers applicants maximum mortgage capacity and the minimum price set for the home by the Council. The Applicant’s purchasing power must not exceed 95% of the market value of the property. The purchasing power of applicants will be calculated as the combined total of:  

• Maximum mortgage capacity, i.e., 4 times gross household income, plus, 
• A minimum deposit of 10% of the affordable purchase price, which can include support from the Help to Buy scheme, plus, 

• Relevant savings, i.e., any savings in excess of the combined sum of the required deposit amount plus €30,000*.

*If you have savings above a certain amount, you may not qualify for the scheme. You can have the money to cover the deposit on the home and an additional €30,000. Anything above this is added to your purchasing power. If this purchasing power goes above 95% of the market value of the home, you are not eligible for the scheme. 

Mortgage Approval in Principle

South Dublin County Council will 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.

Purchasers can use the Local Authority Home Loan or a mortgage from the below listed financial institutions who have entered into a ‘Priorities Agreement’, to finance their purchase. This agreement between the Council and the bank will not impact on the purchaser but will record that the Council will retain an equity share in the property and will provide that the bank’s interest will take priority.

• Local Authority Home Loan (via SDCC; Applying for a Local Authority Loan - SDCC)
• AIB
• Haven Mortgages
• EBS
• Permanent TSB
• Bank of Ireland

Minimum and Maximum Purchase Prices

Applicants must be able to demonstrate that they can fund the purchase of an affordable home between the minimum and maximum purchase prices. If an applicant’s purchasing power is below the minimum purchase price, they are not ineligible for the scheme however they will need to confirm that they have additional funds such as a gift that will increase their purchasing power to the minimum purchase price.

Applicants with purchasing power assessed as over the maximum purchase price of the affordable units available will be ineligible for the scheme.

The market value, minimum and maximum purchase prices for the available scheme are outlined below:

Income Limits

*The income limit is based on 85.5% of the market value of the property divided by 4.