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Shared Ownership

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  • 13-08-2006 7:53pm
    #1
    Procrastinator
    Registered Users Posts: 79 ✭✭


    Does anyone know anything about this? I'm about to start a new job and finally may be able to get a mortgage. unfortunately as I don't have a partner, i'll have to pay it alone and need help.

    Does anyone know anything about Shared Ownership within Dublin, ie from the City Council?
    If so, i'd appreciate your advice and experience.
    Cheers


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    #2
    is_that_so
    Registered Users Posts: 32,136 ✭✭✭✭is_that_so


    Do a search on "Shared Ownership" on www.dublincity.ie


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    #3
    Procrastinator
    Registered Users Posts: 79 ✭✭Procrastinator


    Thanks is that so,
    have already done that but would like to hear from some peole who've gone through the process.
    cheers for the link though!


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    #4
    juddd
    Closed Accounts Posts: 100 ✭✭juddd


    From what I can tell shared ownership has been discontinued.....but dont worry there is affordable housing available, the county council has set up a website for dublin south http://www.propertypath.ie where you can get all the info, I am also single and am currently filling out the forms needed to apply and get my name on the housing list.
    There may be other regions in dublin that still do shared ownership so have a look around.


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    #5
    dublinmark
    Closed Accounts Posts: 2 ✭dublinmark


    Hey Judd,

    Where did you get your information from? Since when has Dublin City Council discontinued shared ownership?!!

    Hey Proscrastinator, I have had a very positive experience with Dublin City Council and Shared Ownership. Left the forms with them (along with P60+wage slips and other things they look for) back in December 2004. Then in January 2005, only six weeks later, I was approved for a mortgage of 230k euro. I could buy up to 250k euro but the mortgage given by DCC would only go to 230k.

    I bought a lovely two bed apartment for 240k (added 10k of my own savings to this). Moved in here back in June 2005. Over the past year, half my mortgage went on rent ! Bummer I know but I had to do this to get finance as I am on my own too!

    Anyway, after one year (June 2006), I was eligible to buy out the 50% share held by DCC. Luckily my wages has gone up in the past year so I contacted a mortgage broker and he has just got me approval by Irish Nationwide to buy out DCC! Yippee! So one year on, I will have a 100% stake in my property (come September as it will take a few weeks to finalise).

    So if I were you I would run with the shared ownership scheme. I think they have increased their loan to 250k euro and you can purchase up to 270k euro. Check out their link - www.dublincity.ie

    Any questions, just post and I will do my best to answer them!
    Mark


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