Waterford City and County Council is actively considering the development of an affordable housing scheme at Ardmore, Co. Waterford. Initially, the Local Authority is assessing the viability of, and the need for such a scheme in the area.
The Local Authority Affordable Housing Scheme provides for Local Authorities to make new homes available at a reduced price for first-time buyers whose mortgage and deposit will not cover the price of the home and who are seeking to purchase a newly-built home.
If you are a first-time buyer, unable to get a mortgage for a new home in the Ardmore area, the affordable housing scheme will provide for:
- The purchase of a home using the income capacity of the purchaser(s) and the maximum mortgage available to them.
- The Local Authority to take an equity stake in the home to cover the shortfall in the price to a maximum of 40% and a minimum of 5% which can be redeemed at any stage in the future or may be left in place until a future sale of the property.
While the final purchase price of the affordable housing has yet to be determined, the scheme will be targeted at those who cannot access social housing supports and cannot afford to purchase a property on the private market.
If you consider that you may qualify and are interested in declaring an interest provisionally at this point, you are invited to complete an Expression of Interest online survey, subject to the important information contained within the survey and acceptance of the terms outlined in it.
To complete the Expression of Interest online survey, visit Waterford City & County Council (submit.com)
The survey will remain open until 4pm, Sunday December 31st, 2023.
For further information about the Admore Affordable Housing Scheme (EoI) email email@example.com