Affordable Purchase Scheme

Using the Affordable Housing Fund, we will make homes available at a reduced price for buyers who are seeking to purchase a newly built home but need to bridge the gap between their mortgage and deposit to cover the full price of the home.

The Affordable Home Purchase Scheme provides purchasers with what is known as an equity facility. This means that purchasers will enter into an Affordable Dwelling Purchase Agreement with us and will receive funds from us in return for the Council taking a percentage ownership in the property purchased. The percentage ownership that we will hold in your home is known as an equity share.

The purchaser can redeem or ‘buy out’ this equity share at a 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 can do so when the property is sold, transferred, or after the death of the owner.

The Affordable Home Purchase Scheme is aimed at households using their combined deposit and their approved maximum mortgage but who cannot afford the home at its open market value.

Further details on the Affordable Housing Scheme can be found in the Related Documents section below.

When a new scheme is being launched, all the relevant details will be available on this webpage.

All queries on Affordable Housing can be sent to afford@dlrcoco.ie

Shanganagh Castle Estate Affordable Housing Scheme will accept applications via the online portal on the 9th of October 2024, from 12 pm onwards.

The Affordable Housing Development in Shanganagh Castle Estate will comprise of the following houses:

• 21 no. two-bedroom houses
• 30 no. three-bedroom houses

Plans and drawings of the houses being sold and further details on this development can be viewed here.

The affordable purchase price will be calculated by Dún Laoghaire-Rathdown County Council based on the “purchasing power” of eligible applicants. This calculation takes into account applicants' maximum mortgage capacity and the minimum price set for the home by the Council. The Applicant’s purchasing power must not exceed 95% of the market value of the property.

The purchasing power of applicants will be calculated as the combined total of:

• Maximum mortgage capacity, i.e. 4 times gross household income
• A minimum deposit of 10% of the affordable purchase price
• Relevant savings*  

*If you have savings above a certain amount, you may not qualify for the scheme. You can have the money to cover the deposit on the home and an additional €30,000. Anything above this is added to your purchasing power. And, if this purchasing power goes above 95% of the market value of the home you are not eligible for the scheme.

This initiative is targeted at first-time buyers and ‘fresh start’ applicants. Details around who can qualify under the ‘Fresh Start Principle’ is available here.

Each person included in the application must have the right to reside indefinitely in the State. 

Applicants “purchasing power” must not exceed 95% of the market value of the property.

Your gross household income must be below a certain level. This is calculated by multiplying your gross income by 4. This figure must then be less than 85% of the market value of the home. Alternatively, you must have proof from a bank or financial institution that you cannot get a mortgage for 85% of the market value of the home.

All income that is assessable can be viewed here. The income limits will differ depending on the properties being sold and this information will be included in Dún Laoghaire-Rathdown County Council’s advert.  

In general, the maximum income limit for an affordable dwelling is 85% of the market value divided by 4.

Scheme of Priority

As well as the above eligibility criteria, a Scheme of Priority was approved by the Elected Members of Dún Laoghaire-Rathdown County Council on 9th January 2023.

The purpose of the Scheme of Priority is that it outlines the rules Dún Laoghaire-Rathdown County Council uses to decide which applicants will be offered dwellings. The Scheme of Priority will apply in the event where there are more eligible applicants than affordable homes available. The main points are as follows:

• The property must be suited to your household’s need.

• In relation to 100% of the dwellings, the date and time of application will be one of the criteria on which eligible applications will be prioritised under the Council’s Scheme of Priority i.e., properties will be allocated on a first come first served basis.

• In relation to 30% of the dwellings, priority will be given to eligible applicants based on any person making the application being or having been resident in the administrative area of Dún Laoghaire–Rathdown County Council for a minimum period of 8 years and applicants will be selected through lottery process as per the scheme of priority.

Dún Laoghaire-Rathdown County Council’s Scheme of Priority can be viewed here.

While it is not a requirement, it is recommended that applicants have their Mortgage Approval in Principle prior to applying for Affordable Housing, or at least be in a position to apply for a mortgage.

Click here for more information on being mortgage ready.

A minimum deposit of 10% of the purchase price of the property will also be required so applicants should ensure they have sufficient savings before applying. First time buyer applicants can avail of the Help to Buy Scheme. This is operated by the Revenue Commissioners.

Click here for more information on the Help to Buy Scheme.

There will be an individual application for each Affordable Housing Scheme, there is no general application form or waiting list.

When affordable homes are made available for purchase, they will be advertised in the following places:

• Dún Laoghaire-Rathdown County Council’s website
• Dún Laoghaire-Rathdown County Council’s Social Media pages
• In a local/national newspapers

The advertisement will include details about the scheme including how and when to apply. 

Applications will be accepted through an online application portal. On the day the application portal opens, you will first need to register on the portal and then you can proceed to complete the online application form and submit the requested documentation.

Please be aware that applications will be prioritised on a first come first served basis.

A link to the application portal along with a list of the required documentation will be available on Dún Laoghaire-Rathdown County Council’s website. A video guide of how to complete an application will also be available.

Your application will be assessed, and it will be determined whether you qualify for an affordable dwelling or not. When all applications have been assessed and eligibility has been determined, Dún Laoghaire-Rathdown County Council will contact all applicants to advise if they have been successful and if they will be receiving an offer or not, depending on the number of properties available

Documentation Required for the Online Affordable Housing Application can be viewed here.

Click here for more information.