Affordable Housing in North County, Dublin

   
 
 
                      
 
Affordable Housing in North County, Dublin 
 
Frequently Asked Questions 
 
Table Of Contents 
Where are the Affordable Homes located? ........................................................................................................3 
What type of properties are available and how much will they cost? ..............................................................3 
How does the Scheme work? ..............................................................................................................................4 
Am I eligible for this scheme? .............................................................................................................................4 
How do I prove my right to reside indefinitely in the State? .............................................................................5 
How is purchasing power calculated? .................................................................................................................5 
How will successful applicants be determined? .................................................................................................6 
Am I eligible to apply if I am not a first-time buyer? ..........................................................................................6 
How do I apply for the scheme? ..........................................................................................................................7 
Do I need to be approved for a Mortgage in order to apply? ..........................................................................7 
What documentation is needed to support my application? ..........................................................................8 
Mandatory documentation required at the time of application. ......................................................................8 
Other Documentation (not mandatory at time of application but will be requested at a later date if 
successful) ......................................................................................................................................................... 10 
What file types will be accepted on the application portal? ........................................................................ 10 
When will the properties be available? ......................................................................................................... 11 
How much deposit do I need? ........................................................................................................................ 11 
Stamp Duty   .................................................................................................................................................... 11 
If I am approved for the scheme, where can I source a loan? ...................................................................... 11 

17. How do I know which property to apply for? ................................................................................................ 11

18. What is the market value of the properties? ................................................................................................. 12

19. How is the affordable purchase price calculated? ......................................................................................... 12

20. How is a decision made on my application? .................................................................................................. 16

21. What is the Scheme of Priority? ..................................................................................................................... 16

22. If I am successful, will I be able to choose which property I want? .............................................................. 16

23. What is the Affordable Dwelling Contribution? ............................................................................................ 17

24. What is the Affordable Dwelling Equity Share? ............................................................................................ 17

25. What is a Redemption Payment? ................................................................................................................... 17

24. Can I rent out the property? ........................................................................................................................... 17

25. What is an Affordable Dwelling Purchase Agreement .................................................................................. 18

1. Where are the Affordable Homes located?

Fingal County Council is making 16 homes available for sale throughout North County Dublin, under

Affordable Housing Purchase Arrangements and the Affordable Housing Act 2021. The homes will be offered

for sale to eligible affordable housing applicants nominated by the Council. The homes available for

purchase are located in the following Developments in North County Dublin: Millers Glen, Swords (6 houses);

Mooretown, Swords (2 houses); Station Road, Lusk (3 houses); The Paddocks, Donabate (3 houses); and

College Avenue, Belcamp (2 houses).

2. What type of properties are available and how much will they cost?

The following houses will be available for purchase under the scheme:

Property

Type

Location

Number

of Houses

available

Typical Gross

Household

Income Limit*

exceptions apply

(€)

Market

Value of

House

Minimum

Sale Price

Approximate

% Reduction

from Market

Value

3-Bed Mid

Terrace

Millers Glen,

Swords

€100,463

€470,000

€370,000

21.28%

3-Bed Mid

Terrace

Millers Glen,

Swords

€102,600

€480,000

€380,000

20.83%

3-Bed Semi

Detached

Millers Glen,

Swords

€106,875

€500,000

€400,000

20.00%

2-Bed Mid

Terrace

Mooretown,

Swords

€85,500

€400,000

€300,000

25.00%

3-Bed End

Terrace

Mooretown,

Swords

€105,807

€495,000

€395,000

20.20%

4-Bed

Detached

Station Road,

Lusk

€118,632

€555,000

€455,000

18.02%

4-Bed

Detached

Station Road,

Lusk

€119,700

€560,000

€460,000

17.86%

4-Bed

Detached

Station Road,

Lusk

€120,769

€565,000

€465,000

17.70%

3-Bed Mid

Terrace

The Paddocks,

Donabate

€106,875

€500,000

€400,000

20%

3-Bed Mid

Terrace

Belcamp,

Dublin 17

€101,532

€475,000

€375,000

21.05%

4-Bed End

Terrace

Belcamp,

Dublin 17

€117,563

€550,000

€450,000

18.18%

To see more information on the houses, please download the brochure here.

3. How does the Scheme work?

The main points of the scheme are as follows:

• The scheme is for first time buyers who cannot afford to purchase a home at its market value. *Some

exceptions apply

• Applicants who are married, in a civil partnership or in a committed relationship with a partner with

whom he/she intends to live in the affordable dwelling, may not apply for an affordable dwelling on

his/her own but must apply jointly with his/her spouse/partner.

• To participate in the scheme, applicants will be required to maximise their mortgage drawdown

capacity (4 times a household income), from a participating lender or Local Authority Home Loan.

*Participating banks include AIB and its Haven subsidiaries, EBS, Bank of Ireland, Permanent TSB &

Community Credit Union Limited.

• The maximum financial support (equity share) available on each home will be established by Fingal

County Council and can be viewed here.

• All purchasers will sign up to an ‘Affordable Dwelling Purchase Agreement’ with Fingal County

Council. Under this agreement, the Council will take a percentage equity share in the dwelling, equal

to the difference between the market value of the dwelling and the price paid by the purchaser.

• The purchaser can buy out this equity share at a time of their choosing but there will be no

requirement to do so.

• The Council may not seek realisation of its affordable dwelling equity for a 40-year period (other than

for breach of the agreement). However, the purchaser may choose to redeem or buy out the

affordable dwelling equity at any time by means of one or a series of payments to the Council. The

minimum amount of redemption payment is €10,000.

• If the purchaser chooses not to redeem the equity share while living in the home, the local authority

can do so when the property is sold or transferred, or after the death of the owner.

4. Am I eligible for this scheme?

In order to be eligible to apply for the scheme at North County, 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.

• To apply for a 2-bedroom property, gross household income for the preceding 12 months should be

below €85,500 *Some exceptions apply

• To apply for a 3-bedroom property, gross household income for the preceding 12 months should be

below €106,875 *Some exceptions apply

• To apply for a 4-bedroom property, gross household income for the preceding 12 months should be

below €120,769 *Some exceptions apply

• 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.

Further information on income that is assessable, including rules around overtime, bonuses and commission,

can be viewed here in the Income Assessment Policy Document.

5. How do I prove my right to reside indefinitely in the State?

• For non-EU/EEA applicants:

o Please submit a copy of your Irish Resident Permit (IRP or GNI Stamp 4) card, indicating which

stamp/permissions you have.

o Single/joint applications where both applicant(s) are Non-EEA/EU, applicants must be legally

resident in Ireland for a period of 5 years; or have leave to remain extending to potentially

permit 5 years reckonable residence; or have indefinite leave to remain in the State.

o An application from a non-EEA/EU national, who is a spouse or civil partner of the EU /EEA

national, may be considered as part of a joint application for that household, provided they

have a valid residence card or permanent residence card with a valid Stamp 4EUFam.

• UK citizens will be regarded as being legally resident in Ireland. (This accords with the Common Travel

Area requirements).

6. How is purchasing power calculated?

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. *

*Where the applicant has excess savings or money in excess of the 10% deposit plus an additional €30,000.

7. How will successful applicants be determined?

As well as the above eligibility criteria, a Scheme of Priority for households deemed eligible will apply to the

scheme in the instance where there are more applicants than properties. The Scheme of Priority can be read

by clicking here.

8. Am I eligible to apply if I am not a first-time buyer?

Yes. Certain exemptions will apply under the Fresh Start Principle, including:

• Applicant(s) that previously held a legal interest in a residential property but is divested of this legal

interest through any of the following mechanisms may be eligible to apply:

o Legal Separation

o Divorce

o Bankruptcy

o Insolvency

• Applicant(s) that previously owned, was beneficially entitled to, or have had an interest in a dwelling

in the state and that this dwelling, because of its size, is not suited to the current accommodation

needs of the applicant’s household i.e., an overcrowded house, may be eligible to apply.

**Please note: If applying as a joint application, both applicants do not need to have the same Buyer Status. One

applicant can be a first-time buyer and the other can qualify under the Fresh Start Principle, however both must

also meet all the other eligibility criteria.

9. How do I apply for the scheme?

The application process will be via an online portal. Applications may be made from 12noon on Friday 26

April 2024. The link to this online portal is available on our website here. The system will allow for the input

of all relevant data and uploading of all supporting documentation.

In the online application process, applicants will have to:

• provide personal details (e.g., name, address, date of birth, PPSN),

• confirm and provide proof that they are a First-Time Buyer or that they qualify under the Fresh Start

Principle,

• declare the total gross annual income for their household for the preceding 12 months,

• provide evidence of their 10% deposit and any savings, i.e., bank statements,

• provide evidence of how they intend to Finance the property in the form of a mortgage approval-in-

principle.

• prove that they have the right to reside indefinitely in the State.

Supporting documentation that will be required, can be viewed here. Your submission will ONLY be awarded

a date and timestamp when you submit a COMPLETE application. All application details and data submitted

will only be retained for this scheme and will not be carried forward for any future affordable housing

scheme(s).

Applicants who submit multiple applications and/or include any false or misleading information on

their application will be disqualified from this process.

10. Do I need to be approved for a Mortgage in order to apply?

Yes, as these properties are built and ready to move in to, applicants should submit a Mortgage Approval

in Principle letter from their proposed lender confirming maximum mortgage available to them. Purchasers

can use a mortgage from any approved private lending institution, such as Bank of Ireland, Permanent TSB,

AIB and its Haven subsidiaries, and Community Credit Union. Alternatively, finance can be sourced via Fingal

County Council by way of a Local Authority Home Loan. Please visit

https://www.fingal.ie/localauthorityhomeloan for more details.

11. What documentation is needed to support my application?

Mandatory documentation required at the time of application.

1. Proof of Income Documentation required:

o If EMPLOYED, please provide your most recent Employment Detail Summary (previously

known as P60) which is available via www.revenue.ie/MyAccount.

AND

Please also arrange to have this salary certificate completed by your employer. Payslips are NOT

acceptable evidence.  

o If SELF EMPLOYED, please upload Accountants Report/Audited Accounts (2 Years Required),

Current Tax Balancing Statement & Current Preliminary Revenue Tax Payment Receipt.

o If NOT EMPLOYED, please upload Statement of total benefits received from Social Welfare

which can be requested via email from your local Social Welfare/Intreo office.   

2. Proof of Citizenship:

o Passport or Birth Certificate

*In the event you upload a Birth Certificate as proof, you must also upload photographic ID such

as valid passport, EU Identity Card, EU/EEA Driving Licence (must contain a photo) for every

applicant

3. Proof of the Right to Reside in Ireland (if applicable):

• For non-EU/EEA applicants:

o Please submit a copy of your Irish Resident Permit (IRP or GNI Stamp 4) card, indicating

which stamp/permissions you have.

o Single/joint applications where both applicant(s) are Non-EEA/EU, applicants must be

legally resident in Ireland for a period of 5 years; or have leave to remain extending to

potentially permit 5 years reckonable residence; or have indefinite leave to remain in the

State.

o An application from a non-EEA/EU national, who is a spouse or civil partner of the EU

/EEA national, may be considered as part of a joint application for that household,

provided they have a valid residence card or permanent residence card with a valid

Stamp 4EUFam.

• UK citizens will be regarded as being legally resident in Ireland. (This accords with the

Common Travel Area requirements).

4. Evidence of Ability to Finance the Purchase:

o A mortgage letter of approval in principle from a Bank / Building Society / Local Authority

stating the maximum mortgage available to applicants,

and

o Proof of savings and deposit in the form of a current bank statement on headed paper dated

within the last 6 months. (If applicable, please include proof of Help-to-Buy).

5. Proof of Buyer Status:

For First Time Buyers –

o Confirmation of eligibility for Help to Buy Scheme: Printout from Revenue portal (myAccount

for PAYE applicants / ROS for Self-assessed applicants) confirming names of applicant(s) and

maximum entitlement under the scheme), OR a printout from Revenue portal showing

application submitted/acknowledged and “Under Review”. *Note that applicants are considered

first-time-buyers only if BOTH are buying their home for the first time. *In order to be eligible to

claim HTB, a qualifying loan must be taken out on the qualifying residence, with a qualifying

lender. As of the 11th of October 2023, the combined value of your mortgage and your affordable

dwelling contribution can now be used to calculate your loan-to-value ratio in a Help to Buy

application. The loan-to-value ratio must be a minimum of 70% of the full market value.

o If you are a First Time Buyer and not availing of the Help to Buy, please provide a sworn

affidavit from a Solicitor confirming that you have never previously owned a dwelling in Ireland

or any other State.

For Fresh Start Applicants –

o Court Decree / Solicitors letter confirming the applicant is divorced/separated or otherwise

and have left the property and divested themselves of their interest in the property.

o Where the applicant has been divested of a previous property through insolvency or

bankruptcy proceedings, proof of the applicant’s status on the bankruptcy register is required.

Proof that any property you previously owned or built has been sold, or given as part of a

personal insolvency, bankruptcy agreement or other legal insolvency process.

o Applicant who’s dwelling because of its size, is not suited to the current needs of their

household, please provide an up-to-date valuation of your current property.

Other Documentation (not mandatory at time of application but will be requested at a later

date if successful)

6. Proof of Residency in Fingal Administrative area for a minimum of 5 years, for applicants to qualify

under the 30% Residency Rule (provide at least one document dated in each of the 5 years)

o Series of utility bills

o Bank/Credit Union statements *see note below.

o Documents issued by any government department that shows your address.

**Please note, if the ‘Date of Statement’ is ‘forward’ as circled above, the document will not count as part of

your proof of residency. This part of the document should include an actual date in order to be valid, for

example: 3 June 2021.

12. What file types will be accepted on the application portal?

The portal will accept the following image files:

• PDF,

• JPEG,

• PNG.

Editable documents such as Word (.doc), or Excel (.xls) are not accepted.

13. When will the properties be available?

The properties are built and ready for occupation.

14. How much deposit do I need?

The Sales Agent requires a €3,000 booking deposit which is fully refundable up until signing of contract. A

further deposit is then required on exchanging of contracts which is 10% of the purchase price less then

initial €3,000 already paid. Also, Financial institutions require that a minimum 10% deposit must be raised

by purchasers.

Example:

For a property with a purchase price of €300,000 you will need a deposit of at least €30,000.

15. Stamp Duty

Stamp Duty is calculated on the full Market Value of the house and is payable by the applicant.

16. Where can I source a loan to purchase a property under the Scheme?

Finance can be secured from the following pillar banks; Bank of Ireland, Permanent TSB and AIB Group,

including EBS and Haven. Finance can also be secured through the following credit unions; Community Credit

Union, or alternatively, finance can be sourced via Fingal County Council by way of a Local Authority Home

Loan. Please see https://www.fingal.ie/localauthorityhomeloan for further information.

17. How do I know which property to apply for?

The property being applied for must be within the applicant’s affordability range and must also suit the

household’s housing need in line with the Scheme of Priority.

Full information can be found in the Scheme of Priority, which can be viewed by clicking here.

18. What is the market value of the properties?

The market value of an affordable home is the price for which the affordable home might reasonably be

expected to achieve on the open market. The various market values of the 16 homes are below:

Property Type

Property Size

Location

Market Value of House

3-Bed Mid Terrace

c. 115 sq m

Millers Glen, Swords

€470,000

3-Bed Mid Terrace

c. 115 sq m

Millers Glen, Swords

€480,000

3-Bed Semi Detached

c. 115 sq m

Millers Glen, Swords

€500,000

2-Bed Mid Terrace

c. 90 sq m

Mooretown, Swords

€400,000

3-Bed End Terrace

c. 113 sq m

Mooretown, Swords

€495,000

4-Bed Detached

c. 131 sq m

Station Road, Lusk

€555,000

4-Bed Detached

c. 133 sq m

Station Road, Lusk

€560,000

4-Bed Detached

c. 135 sq m

Station Road, Lusk

€565,000

3-Bed Mid Terrace

c. 117 sq m

The Paddocks, Donabate

€500,000

3-Bed Mid Terrace

c. 111 sq m

Belcamp

€475,000

4-Bed End Terrace

c. 127 sq m

Belcamp

€550,000

19. How is the affordable purchase price calculated?

Fingal County Council, in line with the Affordable Housing Regulations, will set a minimum price that the

affordable properties can be sold for. Applicants must be able to provide evidence that they can afford to

pay at least the minimum. The final affordable purchase price to be paid by an applicant will all depend on

that applicant’s purchasing power and their ability to raise the relevant finances.

The below tables show examples of varying incomes and how they determine the potential purchasing

power of a buyer.

Worked Example for a 3 Bedroom Mid-Terrace House in Millers Glen

Market Value €470,000

Minimum Sale Price €370,000

Gross

household

income

Mortgage

Capacity

(income x 4)

Deposit

(Min. 10%)

Applicant Purchase

Price (Mortgage +

Deposit)

FCC

Contribution

Equity

Total

Cost

€83,250

€333,000

€37,000

€370,000

€100,000

21.28%

€470,000

€100,463

€401,850

€44,650

€446,500

€23,500

€470,000

Worked Example for a 3 Bedroom Mid-Terrace House in Millers Glen

Market Value €480,000

Minimum Sale Price €380,000

Gross

household

income

Mortgage

Capacity

(income x 4)

Deposit

(Min. 10%)

Applicant Purchase

Price (Mortgage +

Deposit)

FCC

Contribution

Equity

Total

Cost

€85,500

€342,000

€38,000

€380,000

€100,000

20.83%

€480,000

€102,600

€410,400

€45,600

€456,000

€24,000

€480,000

Worked Example for a 3 Bedroom Semi-Detached House in Millers Glen

Market Value €500,000

Minimum Sale Price €400,000

Gross

household

income

Mortgage

Capacity

(income x 4)

Deposit

(Min. 10%)

Applicant Purchase

Price (Mortgage +

Deposit)

FCC

Contribution

Equity

Total

Cost

€90,000

€360,000

€40,000

€400,000

€100,000

20%

€500,000

€106,875

€427,500

€47,500

€475,000

€25,000

€500,000

Worked Example for a 2 Bedroom Mid-Terrace House in Mooretown

Market Value €400,000

Minimum Sale Price €300,000

Gross

household

income

Mortgage

Capacity

(income x 4)

Deposit

(Min. 10%)

Applicant Purchase

Price (Mortgage +

Deposit)

FCC

Contribution

Equity

Total

Cost

€67,500

€270,000

€30,000

€300,000

€100,000

25%

€400,000

€85,500

€342,000

€38,000

€380,000

€20,000

€400,000

Worked Example for a 3 Bedroom End-Terrace House in Mooretown

Market Value €495,000

Minimum Sale Price €395,000

Gross

household

income

Mortgage

Capacity

(income x 4)

Deposit

(Min. 10%)

Applicant Purchase

Price (Mortgage +

Deposit)

FCC

Contribution

Equity

Total

Cost

€88,875

€355,500

€39,500

€395,000

€100,000

20.20%

€495,000

€105,806

€423,225

€47,025

€470,250

€24,750

€495,000

Worked Example for a 4 Bedroom Detached House in Station Road, Lusk

Market Value €555,000

Minimum Sale Price €455,000

Gross

household

income

Mortgage

Capacity

(income x 4)

Deposit

(Min. 10%)

Applicant Purchase

Price (Mortgage +

Deposit)

FCC

Contribution

Equity

Total

Cost

€102,375

€409,500

€45,500

€455,000

€100,000

18.02%

€555,000

€118,631

€474,524

€52,725

€527,250

€27,750

€555,000

Worked Example for a 4 Bedroom Detached House in Station Road, Lusk

Market Value €560,000

Minimum Sale Price €460,000

Gross

household

income

Mortgage

Capacity

(income x 4)

Deposit

(Min. 10%)

Applicant Purchase

Price (Mortgage +

Deposit)

FCC

Contribution

Equity

Total

Cost

€103,500

€414,000

€46,000

€460,000

€100,000

17.86%

€560,000

€119,700

€478,800

€53,200

€532,000

€28,000

€560,000

Worked Example for a 4 Bedroom Detached House in Station Road, Lusk

Market Value €565,000

Minimum Sale Price €465,000

Gross

household

income

Mortgage

Capacity

(income x 4)

Deposit

(Min. 10%)

Applicant Purchase

Price (Mortgage +

Deposit)

FCC

Contribution

Equity

Total

Cost

€104,625

€418,500

€46,500

€465,000

€100,000

17.70%

€565,000

€120,769

€483,076

€53,750

€536,750

€28,250

€565,000

Worked Example for a 3 Bedroom Mid-Terrace House in The Paddocks, Donabate

Market Value €500,000

Minimum Sale Price €400,000

Gross

household

income

Mortgage

Capacity

(income x 4)

Deposit

(Min. 10%)

Applicant Purchase

Price (Mortgage +

Deposit)

FCC

Contribution

Equity

Total

Cost

€90,000

€360,000

€40,000

€400,000

€100,000

20%

€500,000

€106,875

€427,500

€47,500

€475,000

€25,000

€500,000

Worked Example for a 3 Bedroom Mid-Terrace House in Belcamp

Market Value €475,000

Minimum Sale Price €375,000

Gross

household

income

Mortgage

Capacity

(income x 4)

Deposit

(Min. 10%)

Applicant Purchase

Price (Mortgage +

Deposit)

FCC

Contribution

Equity

Total

Cost

€84,375

€337,500

€37,500

€375,000

€100,000

21.05%

€475,000

€101,531

€406,125

€45,125

€451,250

€23,750

€475,000

Worked Example for a 3 Bedroom Semi-Detached House in Belcamp

Market Value €550,000

Minimum Sale Price €450,000

Gross

household

income

Mortgage

Capacity

(income x 4)

Deposit

(Min. 10%)

Applicant Purchase

Price (Mortgage +

Deposit)

FCC

Contribution

Equity

Total

Cost

€101,250

€405,000

€45,000

€450,000

€100,000

18.18%

€550,000

€117,563

€470,250

€52,250

€522,500

€27,500

€550,000

*The higher an applicant’s purchasing power is, the more they will contribute to the price and the less equity the

Council will take.

* The above examples are indicative only. There are some cases where significant savings can add to purchasing

power where gross income is lower.

20. How is a decision made on my application?

The decision on your application is made by Fingal County Council in accordance with the eligibility criteria

and the Council’s Scheme of Priority. Homes will be allocated on a First-Come, First-Serve basis.

21. What is the Scheme of Priority?

A Scheme of Priority was approved by the Elected Members of Fingal County Council on 13th June 2022. The

Scheme of Priority outlines a methodology to be applied to determine the order of priority accorded to

eligible households where the demand for such arrangements exceeds the dwellings or resources available.

The main points are as follows:

• The property must be suited to your household’s need.

• In relation to 100% of the dwellings, the date and time of application will be one of the criteria

on which eligible applications will be prioritised under the Council’s Scheme of Priority i.e.,

properties will be allocated on a first come first served basis.

• In relation to 30% of the dwellings, priority will be given to eligible applicants based on any

person making the application being or having been resident in the administrative area of

Fingal County Council for a minimum period of 5 years.

22. If I am successful, will I be able to choose which property I want?

If you are successful, and after you have received your offer letter from Fingal County Council, your details

will be passed over to our Selling Agent, Sherry FitzGerald Cumisky Kelly. The preference of applicants for

a particular property & location within the scheme will be based on affordability and the confirmed order of

merit following the assessment of applications by Fingal County Council.

When your property is assigned, you will be required to pay a booking deposit of €3,000.

All successful applicants will be required to obtain independent legal advice and pay their own legal costs to

process the sale of the property. These and other associated costs must be considered when applying.

23. What is the Affordable Dwelling Contribution?

The Affordable Dwelling Contribution is the amount paid by Fingal County Council towards your purchase of

an affordable home. This refers to the monetary amount that the Council will pay.

The Affordable Dwelling Contribution is the difference between the combined total of the purchaser’s

deposit, maximum mortgage capacity and savings where relevant and the market value of the home as per

date of offer.

24. What is the Affordable Dwelling Equity Share?

The Equity Share is simply the contribution that the Council provide expressed as a percentage.

It is the percentage of the market value that Fingal County Council will contribute to the purchase of the

affordable property. This will be at least 5% of the market value. This entitles the Council to the same

percentage in value of a future sale of the property subject to terms and conditions. It does not establish the

Council as a co-owner of the property.

25. What is a Redemption Payment?

A Redemption Payment is a payment that is made by the Purchaser to Fingal County Council to pay back the

Affordable Dwelling Contribution that was provided. Redemption Payments are subject to certain conditions

which are outlined in the Affordable Dwelling Purchase Agreement. The minimum redemption payment is

€10,000. The purchaser can redeem or ‘buy out’ the equity share at a time of their choosing, but there is no

obligation to do so. If the purchaser chooses not to redeem the equity share while living in the home, the

Council can do so when the property is sold, transferred, or after the death of the owner.

24. Can I rent out the property?

The Local Authority Equity is provided to homebuyers who intend to make the property their Principle Private

Residence.

25. What is an Affordable Dwelling Purchase Agreement

The Affordable Dwelling Purchase Agreement is the legal contract between the Council and the purchaser

setting out the terms and conditions under which the Council provides the Affordable Dwelling Contribution.

Each successful applicant will enter into an Affordable Dwelling Purchase Agreement with Fingal County

Council. This will be prior to or at the same time as the closing of the purchase of their affordable home. The

agreement covers the obligations of the purchaser and the Council and makes provision for the registration

of the agreement with the Registry of Deeds/Land Registry. The agreement will also set out how and when

the homeowner can make redemption payment(s) to reduce the Council’s affordable dwelling equity share

as well as the conditions under which the Council may seek redemption of the affordable dwelling equity.

Successful applicants will be required to enter into a Contract for Sale with the developer in order to

complete the purchase of the affordable home. This Contract for Sale will include all standard conveyancing

terms and conditions.

Applicants should note that giving untrue/incorrect information on their application may lead to the

Affordable Dwelling Purchase Agreement being terminated and the offer to purchase being withdrawn.