Affordable Housing Scheme: The WIllows, Dunshaughlin
AFFORDABLE HOUSING AT THE WILLOWS, DUNSHAUGHLIN, CO. MEATH
Meath County Council in conjunction with the GEM Group are launching an ‘Affordable Housing Scheme’ at The Willows, Dunshaughlin, Co. Meath.
A total of 20 affordable homes, consisting of 6 nr. 2 bedroom mid terrace dwellings and 14 nr. 3 bedroom mid terrace dwellings are being made available for sale under affordable dwelling purchase arrangements in accordance with the Affordable Housing Act 2021 and associated Affordable Housing Regulations through an online Portal.
The houses are available for purchase by first time buyers who do not own or have a legal interest in a dwelling, with some exceptions applicable. The houses will be sold at a price that is less than the market value. This price will be calculated on an individual basis, in accordance with the income of the purchaser.
All purchasers will sign up to an ‘Affordable Dwelling Purchase Arrangement’ with Meath County Council. Meath County Council will retain an ‘Equity Share’ in the property, equal to: The difference between the open market value of the dwelling and the Purchase Price paid by successful applicants’ expressed as a percentage of the Open Market Value of the dwelling.
Successful affordable purchasers can choose to redeem or purchase the Equity Share in the dwelling at any time by making payments to Meath County Council.
The minimum prices to be paid by eligible purchasers for dwellings and the typical gross income limits for eligibility for each type of dwelling are set out in the following table:
|House Type||Max. Household Income Limit (€)||Min. Purchase Price (€)|
Where the number of eligible applicants exceeds the number of affordable dwellings for which applications are made, applications will be prioritised in accordance with Meath County Council’s Scheme of Priority. 30% of the dwellings to be allocated to households having been resident in the administrative area of Meath County Council for a minimum period of 5 years. In respect of the balance of 70% of the dwellings, date and time of application will be a ranking mechanism on which eligible applications will be prioritised on a First Come First Served basis.
Applications will be accepted via an online application portal only which will go live on Monday the 20th of March 2023 at 12 noon and will close 12 noon on Tuesday the 11th of April 2023.
For further information on this scheme, including the Scheme of Priority, please visit our website www.meath.ie and type ‘Affordable Housing’ in the search bar.