Tenants Handbook


Affordable Housing Scheme Under this scheme new houses will be offered for sale to eligible persons at a subsidised cost. Eligibility is based on income grounds principally. The purchase of the dwelling would be outright, with the purchaser having full ownership of the house from the beginning. Cork City Council will provide a Mortgage of up to 97% of the sale price of the dwelling. Loans are advanced over a 25-year period with the option of choosing either a fixed interest rate for 5 years or a variable interest rate. If the property is sold within 20 years from the date of purchase some or all of the subsidy must be repaid. Loan repayments can be subsidised in certain instances.

Tenant Purchase Scheme. Tenants of certain local authority houses for at least one year may apply to purchase their house. The price of the house is based on the market value less the stated discounts (presently the maximum discount is 30%). The purchase may be funded by way of a Local Authority loan or a loan from a financial institution. Certain categories of dwellings are excluded from the tenant purchase scheme.

Disabled Persons Alterations A scheme is available for carrying out essential alterations arising from the disability of a tenant. Applications in this regard should be made to the Loans and Grants Section.

Housing Loans for House Purchases and Improvements A person wishing to purchase a house, either new or second-hand or build a house or improve an existing house, who cannot get a loan from a financial institution, may be eligible for a Local Authority loan. In order to qualify, the applicant must meet an income eligibility test, which takes into account the income of the principal and subsidiary earner.

Mortgage Allowance Scheme A Mortgage Subsidy over 5 years is available to tenants who surrender their dwelling and take out a mortgage to purchase a private dwelling. Certain other conditions apply.

Shared Ownership Scheme This scheme offers home ownership in a number of steps to those who cannot afford full ownership in the traditional way. Initially, ownership of the house is shared between Cork City Council and the purchaser. A subsidy towards the rent is available for shared owners on low income. The successful applicants will initially acquire a minimum of 40% of the equity in the property by way of a Local Authority loan and rent the remaining equity.




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