Ten new homes in Kilkenny to be available under Affordable Purchase Scheme

Applications are set to open for the purchase of 10 homes in Kilkenny City under the Affordable Purchase Scheme, thanks to Kilkenny County Council in partnership with Glenveagh Homes Ltd and the Department of Housing, Local Government and Heritage.

Located at Cluain Glasan on the Granges Road, the homes on offer under the scheme will be a mix of A-rated three-bedroom houses. Standard full market prices for the 10 homes start at €330,000 for a mid-terrace house, €345,000 for an end terrace house and €365,000 for a semi-detached house. Successful applicants will be able to avail of equity contributions of up to €75,000, depending on the price of the property and the applicant’s own financial circumstances.

Cathaoirleach of Kilkenny County Council Michael Doyle has welcomed the announcement.

“Affordable housing is the cornerstone of a thriving community that can help empower individuals and families, and help to ensure that everyone has the opportunity to build a brighter future,” he said.

Kilkenny County Council Director of Services for Housing Mary Mulholland said she was delighted that Cluain Glasan will be able to help 10 new homeowners gain access to the market with affordable, sustainable and secure homes in a highly desirable location.

“I believe that every resident deserves a safe and comfortable home they can call their own,” she said.

“By nurturing the spirit of affordability in developments like Cluain Glasan, we can help pave the way for inclusivity, stability, and importantly, give people a roof over their head.”

Making the homes for sale at discounted prices has been made possible with the help of Government funding through the Affordable Housing Fund which is a subsidy provided by the Department of Housing, Local Government and Heritage to local authorities as a direct subvention on housing development costs. The scheme is primarily aimed at providing first time buyers with accessible options for purchasing.

Through the Local Authority Affordable Purchase Scheme, successful applicants will be able to purchase their new homes at a price lower than market value. In return, Kilkenny County Council will retain a percentage equity share in the home equal to the difference between the open market value of the home and the price paid by the buyer.

Successful applicants have the option of buying out this share over time. Equity shares are calculated on an individual basis and are linked to an applicant’s income, savings and mortgage capacity.

APPLICATION PROCESS
For those seeking to purchase one of the homes, the application process will only be via an online application portal. The application portal will go live online at noon on Wednesday April 24. Applications may be made between noon on Wednesday, April 24 and noon on Wednesday, May 22 when the portal closes.

It is strongly recommended that applicants have Mortgage Approval in Principle prior to applying for this scheme, as applicants will be required to demonstrate their capacity to purchase.

Dwellings will be made available to eligible applicants in accordance with Kilkenny County Council’s Scheme of Priority. Date and time of valid application will be one of the criteria on which eligible applications will be prioritised. Applications which are incomplete or those not accompanied by the requested supporting documentation will be deemed invalid.

Further information on this scheme, including link to the application portal, eligibility criteria, the Scheme of Priority, guide to making an application and the documentation required to accompany the application is available at kilkennycoco.ie/cluain-glasan.

Queries can be directed to affordablehousing@kilkennycoco.ie.