Laoise - Affordable Homes FAQ

Laoise -

Affordable Homes FAQ

1) How do I apply for Affordable Housing?

Application forms for Affordable Homes can be downloaded from the Housing Section of this website or by calling into our offices here in Áras an Chontae: 057-8664088 or 057-8664240 or 057-8664237.

2) Can I re-sell my affordable home?

If you sell a property purchased under this scheme within 20 years a percentage of the proceeds of the re-sale of the property is payable to Laois County Council. The amount due to be repaid reduces by 10% every year after the 10th year. This “claw-back” on the proceeds of the re-sale of the property ceases after 20 years.

3) How do I qualify for the Affordable Housing Scheme ?

You must be a first time buyer (certain limited exceptions apply).

You must be in permanent employment.

Your income on your P60 from the previous tax year must be within the following limits:

• Single income household – Max in the previous tax year €40,000
• Double income household – Main earners income x 2.5 plus second income x 1 must not exceed €100,000

3) How do I qualify for the Affordable Housing Scheme ?

You must be a first time buyer (certain limited exceptions apply).

You must be in permanent employment.

Your income on your P60 from the previous tax year must be within the following limits:

• Single income household – Max in the previous tax year €40,000
• Double income household – Main earners income x 2.5 plus second income x 1 must not exceed €100,000

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4) What are the 3 different types of Affordable Housing schemes?

a Houses built on Laois County Council owned lands – Laois County Council Affordable Housing Scheme.

b Apartments in private residential developments – Part V Affordable Housing Scheme.

c On lands made available by the Government – Affordable Housing Initiative.

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5) What loan amount should I apply for as part of the Affordable Housing Scheme?

Laois County Council will determine the amount of loan you qualify for based on your current take home pay.

N.B. Your mortgage repayments can not exceed 35% of your net monthly income.

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6) What about legal fees and do I need my own Solicitor for a Housing Loan?

Purchasers are required to seek their own solicitor for the purcahse of their affordable home.

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7) Can I have a statement of my account/interest statement on my Shared Ownership Loan, Home Improvement Loan or Mortgage with Laois County Council

If you contact the Accounts Section, Loans Sales & Grants and provide your name, address and account number, a statement will be posted out to you.

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8) What does Mortgage Protection cover in the Affordable Housing Scheme?

The Mortgage Protection Scheme provides insurance in the event of long-term illness or injury for the principal earner and death for both earners. It does not cover you for illness or injury sustained prior to the completion of the purchase of your property.