Vol. 448 No. 3
118 Mr. Killeen asked the Minister for the Environment if a house purchaser under the local authority shared ownership scheme, who qualifies for the £3,000 new house grant, will have the amount of the grant deducted from the maximum approved under the shared ownership scheme. [2127/95]
Under the terms of the shared ownership system, the applicant's initial share of the cost of the dwelling is met by the payment of a minimum deposit of £1,000 the £3,000 new house grant, if applicable, and a mortgage loan obtained by the applicant; taken together, these must account for at least 50 per cent of the equity of the dwelling.
