Tuesday, 29 September 2020

Ceisteanna (401)

Robert Troy


401. Deputy Robert Troy asked the Minister for Housing, Local Government and Heritage the grant assistance available to assist long-term local authority residents who purchase a new property. [27070/20]

Amharc ar fhreagra

Freagraí scríofa (Ceist ar Housing)

Under the Serviced Sites Fund (SSF), €310 million funding has been made available to local authorities to provide infrastructure to support the delivery of more affordable new homes on local authority lands.  With a maximum of €50,000 infrastructure funding available per home, at least 6,200 more affordable homes, to buy or rent, can be facilitated.  The funding support provided allows local authorities that have identified affordability challenges in their area to make homes available on their lands at more competitive prices.  The funding support provided remains as a percentage equity charge against the property which will be retained by the local authority until it has been fully repaid.

To date, of the total Serviced Sites funding available, €127 million has been approved in principle in support of 35 projects in 14 local authority areas, which will assist in the delivery of almost 3,200 affordable homes.  

There are a further two supports that may be of assistance to local authority tenants to purchase their own home.

The Help to Buy (HTB) incentive is a scheme for first-time property buyers which may help with the deposit needed to buy or build a new house or apartment.  Full details are available at https://www.revenue.ie/en/property/help-to-buy-incentive/index.aspx.

The Rebuilding Ireland Home Loan is a Government-backed mortgage for first time buyers, available from local authorities, which can be used to purchase a new or second-hand property or for self-build. A Rebuilding Ireland Home Loan provides up to 90% of the market value of the property. Full details are available at www.rebuildingirelandhomeloan.ie/.