The Government intends to introduce a process which would require a landlord selling a property to first offer it for purchase to the tenant or alternatively another designated body for the purposes of allowing the tenant to remain in the home via a cost rental arrangement.
Legislative and administrative measures are being examined to help a tenant to buy their rented home on the basis of a landlord offering their tenant first refusal to buy.
It is possible that some tenants, who are offered this first right of refusal, may wish to purchase the home but may be unable to secure a sufficient mortgage under the Central Bank’s macro prudential rules to meet the independent valuation. As such, the board of the First Home Scheme have agreed to extend eligibility to this cohort.
My Department is not aware of any instances where a local authority or Approved Housing Body has been prevented from acquiring a property for social housing due to contract restrictions. However, I am aware of the recent media coverage of one specific case and my Department will keep this matter under review.
The Housing Agency has purchased hundreds of apartments over several years, in its own capacity and on trust for local authorities, and the Agency has informed my Department that it has not been prevented from acquiring an apartment by a contract restriction preventing the owner from selling their apartment for social housing use.
