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Shared Ownership Confusion

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  • 04-09-2006 10:26pm
    #1
    connundrum
    Registered Users Posts: 5,563 ✭✭✭


    Hi,

    About to tackle the minefield that is affordable housing/shared ownership with DCC. Now I think I've a fair understanding of what affordable housing is and what it may entail, but shared ownership it confuzzling me! :(

    According to the website -
    The maximum loan is €230,000. You may add verifiable savings of up to €38,000. However, the maximum house purchase price is €250,000.

    So what does that mean then? Is the maximum purchase price €250,000 or is it €268,000 (€230 + €38)?

    And is there any flexibility in this scheme? As in if I've €5k savings will my maximum purchase price be €235,000 and thats just it, end of story?
    Has anyone had positive experience with it?

    Help and personal experience is welcome!

    Cheers


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    #2
    gurramok
    Closed Accounts Posts: 13,992 ✭✭✭✭gurramok


    AFAIK, To answer your questions in one go, the maximum purchase price is the price of the hse at €250,000 so you'll have to make that up wit either a max loan of €230,000 and rest in savings. (other posters might correct me)

    Also, the council's websites are always outdated a bit so ring them up as that €250,000 max might have gone up lately


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    #3
    Mrs_Doyle
    Registered Users Posts: 1,187 ✭✭✭Mrs_Doyle


    Has anyone here managed to get a house or apartment on the Shared Ownership scheme?

    I am currently in the process of filling out the forms, and looking at properties that fall within the €250k cut off mark.

    However, I noticed this:
    Once you have been approved in principle for shared ownership by the local authority, you can start looking for a new or existing house or build a new house. Your local authority may also have homes for sale under the scheme at a discount from market value.

    I was curious, how do you find out where these 'discount' properties are?

    Basically, if there is anyone on boards who has successfully managed to get a home through the shared ownership scheme I would love to hear about your experience.

    Thanks


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