Check If You're Eligible
What is the affordable purchase scheme?
Under the Affordable Purchase Scheme, Kilkenny County Council will make homes
available at a reduced price for eligible applicants who are seeking to purchase a
newly built home but need additional funds to bridge the gap between their mortgage
and deposit to cover the price of the home.
In return, Kilkenny County Council will take a percentage equity share in the home
equal to the difference between the market value of the home and the price paid by
the purchaser. The purchaser can redeem or ‘buy out’ this equity share at any time
of their choosing but there is no obligation to do so.
If the purchaser chooses not to redeem the equity share while living in the home, the
Council shall do so when the property is sold, transferred or after the death of the
owner.
Who is eligible to apply for the scheme?
The combined gross household income of all of the persons making the application, is below a certain level. This is calculated by multiplying the gross household income by 4. This must be less than 85.5% of the market value of the Affordable Home. The applicant’s gross household income plus deposit plus excess savings must not exceed 95% of the market value of the home.
None of the persons making the application has previously purchased or built a dwelling in the state for his or her occupation. (Exceptions apply – See Kilkenny County Council Information Booklet).
None of the persons making the application owns, or is beneficially entitled to an estate or interest in, any dwelling in the State or elsewhere.
Each of the persons making the application has a right to reside in the State indefinitely.
