Affordable Housing Scheme
Glenveagh Homes is partnering with Fingal’s Affordable Housing team to provide new Affordable Homes to purchase at a reduced price in Ballisk Park, Donabate. The scheme will be comprised of 112 homes, ranging in size from 2, 3 to 4-bed.The application portal for this scheme will open at 12 pm, Wednesday, 26 February 2025. See below for more information on how to prepare your application in advance of the portal opening.
The Affordable Purchase Scheme is for households who have a combined deposit and an approved maximum mortgage but still can't afford a home at full market value. The Scheme is designed to help bridge the gap between what purchasers can afford to pay and the price of the house they wish to buy. It may be the option you need to buy your newly built home.
Through our Affordable Housing Schemes, Fingal County Council offer homes at a reduced price and provide an equity facility to assist with the purchase of a newly built home at a price lower than the market value. In return, Fingal County Council will take a percentage equity share in the home, equal to the difference between the market value and the reduced price you pay. For eligibility criteria and more information about Fingal County Council Affordable Housing schemes see below.
Use this checklist to help you when preparing for your application
• Your full name, date of birth and PPS Number
• Confirmation that you are a First-Time buyer (or Fresh Start applicant)
• Proof of Income
• Proof of right to reside in the Republic of Ireland
• Evidence of your savings and/or deposit
• Stamp 4 Eligibility
• A Mortgage Approval in Principle letter stating the maximum mortgage available to you may be required as part of the process
• Confirmation of eligibility for Help to Buy, if applicable
Documentation Required for Affordable Housing
The assessment of any submitted applications for these schemes is ongoing.
Completed Schemes
The affordable purchase price will be calculated by Fingal County Council based on the “purchasing power” of eligible applicants. This calculation takes into account applicants maximum mortgage capacity and the minimum price set for the home by the Council.
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, plus,
- Relevant savings**.
**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. And, if this purchasing power goes above the maximum price set for each home, you are not eligible for the scheme.
Affordable Purchase Price Example – Property with a Market Value of €390,000
The below examples show varying incomes and how they determine the affordable purchase price and the Council’s equity share of a property with a market value of €390,000.
You can see the higher an applicant’s purchasing power is, the more they will contribute to the price and the less equity the Council will take.
In order to be eligible to apply for Affordable Housing, applicants must satisfy the below criteria:
- 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.
- Each person included in the application must have the right to reside indefinitely in the State.
- The affordable home must be the household’s normal place of residence.
- The gross household income must be below a certain amount. This income limit will be different for each scheme.
As well as the above eligibility criteria, a Scheme of Priority was approved by the Elected Members of Fingal County Council on 13th June 2022.
The purpose of the Scheme of Priority is that it outlines the rules Fingal County Council uses to decide which applicants will be offered dwellings. The Scheme of Priority will apply in the event where there are more eligible applicants than affordable homes available.
Fingal County Council’s Scheme of Priority can be viewed here.
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.
There will be an individual application for each Affordable Housing scheme, there is no general application form or waiting list.
When affordable homes are made available for purchase, they will be advertised in the following places;
- Fingal County Council’s website
- Fingal County Council’s Social Media pages
- In a local/national newspaper
The advertisement will include details about the scheme including how and when to apply.
Applications will be accepted through an online application portal. On the day the application portal opens, you will first need to register on the portal and then you can proceed to complete the online application form and submit the requested documentation.
Please be aware that applications will be prioritised on a first come first served basis.
A link to the application portal along (see above) also with a list of the required documentation will be available on Fingal County Council’s website. A video guide of how to complete an application is available here.
Your application will be assessed, and it will be determined whether you qualify for an affordable dwelling or not. When all applications have been assessed and eligibility has been determined, Fingal County Council will contact all applicants to advise if they have been successful and if they will be receiving an offer or not, depending on the number of properties available.
Further details on the Affordable Housing Scheme can be found in the documents below:
The Local Authority Home Loan (LAHL) is available for people who are unable to obtain sufficient funding from commercial banks to purchase or build a home. The loan can be used both for new and second-hand properties, or to self-build. It also includes the purchase of homes through State schemes such as the Tenant Purchase Scheme and Affordable Housing Schemes, with the exception of the First Home Scheme. https://www.fingal.ie/localauthorityhomeloan