Louth County Council’s Scheme of Priority For Affordable Dwelling Purchase Arrangements Survey
Introduction
Louth County Council has adopted A Scheme of Priority for Affordable Dwelling Purchase Arrangements on 19th September 2022. Notwithstanding the eligibility criteria that is set down by regulations for Affordable Housing schemes the Council wishes to establish the level of interest for affordable housing in County Louth.
The Affordable Dwelling scheme makes local homes available at a reduced price for first-time buyers, and Fresh Start applicants, whose combined mortgage and deposit will not cover the market price of the newly built home.
Through the scheme, Louth County Council takes a percentage equity stake (share of the ownership) in the home equal to the difference between the open market value of the property and the reduced price paid by the purchaser. Eligible applicants can apply to purchase a Local Authority delivered Affordable Purchase dwelling through their Local Authority when they become available.
Under the Affordable Housing Fund, Louth County Council will make homes available at a reduced price for buyers who are seeking to purchase a newly built home but need to bridge the gap between their mortgage and deposit to cover the full price of the home. It is proposed to deliver these homes on Council owned land and also through advance purchases from Private Developers.
The Affordable Dwelling Purchase Scheme provides purchasers with what is known as an equity facility. This means that purchasers will enter into an Affordable Dwelling Purchase Agreement with Louth County Council and will receive funds from Louth County Council in return for the Council taking a percentage ownership in the property purchased. The percentage ownership that Louth County Council holds in your home is known as an equity share.
The purchaser can redeem or ‘buy out’ this 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.
The Affordable Dwelling Purchase Scheme will be aimed at households using their combined deposit and their approved maximum mortgage but who cannot afford the home at its open market value.
Important Information
Louth County Council are conducting an online survey to determine the level of interest in Affordable Housing in County Louth – this will help us to establish the need in Louth and plan the delivery of affordable housing in the County. The Scheme of Priority for Affordable Dwelling Purchase Arrangements may provide apartments/houses at a reduced price for eligible applicants. Louth County Council's Scheme of Priority for Affordable Dwelling Purchase Arrangements can be found at: https://www.louthcoco.ie/en/services/housing/scheme-of-priority-for-affordable-dwelling-purchase-arrangements/
This is a survey of interest in affordable housing purchase only and for the purpose of gathering information on income levels, family size, housing type and location preference. The information will be used to inform the Council on the level of demand and locations for affordable apartments/houses and the property prices that people might be able to afford. This will help us design a scheme with the right type of homes, at the locations and price points that suit the needs of people in so far as possible.
Availability of any affordable housing schemes progressed by the Council in the future will be advertised separately, and a formal application process will apply with the legislation in place at that time.
If you consider you would be interested in applying for an affordable dwelling, you are invited to complete the online survey. The survey will take approximately 5 minutes to complete.
The survey is now available on Louth County Council’s website and will be open until 10th February 2023. Data is collected for survey purposes only and there will be no follow up correspondence to submissions.
No properties are currently available for purchase under the affordable housing scheme
Online Survey -Terms and conditions
- This is a survey only, for the purpose of gathering information and determining potential levels of interest. It is intended to assist Louth County Council in formulating plans for Affordable Housing Options.
- Eligibility criteria may change from time to time.
- Applicants interested in the Affordable Housing Scheme should note their interest online only.
- Completion of the survey does not imply eligibility or convey approval in any form, to a future offer of affordable housing by Louth County Council.
- This is not a waiting list and will not determine priority.
- The existence of this register does not preclude others from applying to be considered for affordable housing.
- The data submitted by you as part of this submission, will be retained in accordance with the retention schedules for as long as the relevant statutory provisions remain in force and that apply and will be used for the following purposes:-
- The establishment of a register of provisional interest in affordable housing provided by Louth County Council.
- To make further contact with applicants to confirm continuing interest and for final confirmation of actual interest
- The potential onward transfer of the data to a register maintained by Louth County Council of confirmed interest, which can be used as part of the process for final evaluation, prior to provisional approval for affordable housing.
- The potential onward transfer to the Department of Housing, Local Government & Heritage or the Housing Agency as part of any evaluation or approval process associated with affordable housing.
- As a base register from which a list of approved applications will be derived to be passed on to a builder/developer of affordable homes.
This information is sought by the Housing Department of Louth County Council and retained in pursuance of the functions of Louth County Council as a Housing Authority in relation to housing under the Housing Acts 1966-2015 and in relation to Affordable Housing under Part 5 of the Housing (Miscellaneous Provisions) Act 2009 and Section 96 of the Planning and Development Act 2000 as amended by provisions within the Affordable Housing Act 2021
Details of the affordable housing scheme including those that can be considered for the scheme can be found at https://www.gov.ie/en/service/4ea9a-local-authority-affordable-purchase-scheme/
Note: For further information on how to exercise your Data Protection Rights, our Data Protection Policy can be accessed at https://www.louthcoco.ie/en/access-to-information/freedom-of-information/your-rights-to-information/data-protection-in-louth-county-council/