In most cases, yes. The scheme is primarily aimed at first time buyers, although some ‘Fresh Start’ applicants (such as people who are divorced or separated and no longer have an interest in a family home) may also qualify.

You generally need a minimum deposit of 10% of the purchase price of the affordable home. You must also show that you can get mortgage approval for the remaining amount.

Each scheme has income limits. Your income is assessed alongside your mortgage capacity to confirm that you cannot afford the home at full market value. If your combined income, savings and mortgage could cover the full price, you may not be eligible.

Yes. You can buy back the local authority’s equity share at any time, based on the market value at that point. If you do not buy it out earlier, it must be repaid when you sell the home or after 40 years.

No. There is no rent or interest charged on the local authority’s equity stake.

If demand exceeds supply, applications will be prioritised based on the local authorties Scheme of Priority. 

All available schemes are advertised on www.affordablehomes.ie, with clear opening and closing dates for applications.