Affordable Housing : 3 months savings needed

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dub0605

Registered User
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wondering if anyone could help, i am currently looking into the affordable housing scheme and have noticed that they now need proof of 3 months savings (to prove you can afford it) im just wondering how much should i be saving? (it will be a joint application) i have emailed to ask but have had no reply as yet. i just think its weird they dont give an indication.

any help is greatly appreciated

thanks :)
 
Re: Affordable Housing 3 months savings needed

dub0605 said:
wondering if anyone could help, i am currently looking into the affordable housing scheme and have noticed that they now need proof of 3 months savings (to prove you can afford it) im just wondering how much should i be saving? (it will be a joint application) i have emailed to ask but have had no reply as yet. i just think its weird they dont give an indication.

any help is greatly appreciated

thanks :)
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Hi,
I don't think they have a definite figure, but I would guess that they would look at the amount you are paying for rent now, and add it to the amount you are saving per month, to see if come to approx. the same amount the mortgage would cost you per month.
 
Re: Affordable Housing 3 months savings needed

Its a while since we made the application but I remember seeing somewhere, something about €750 a month - so as a joint one it'd be €1500 - we were saving 1k each a month and were offered....think its a case by case basis either way!
 
Re: Affordable Housing 3 months savings needed

thanks for the quick replies. Dunno if i could save €1000 a month, think i need a better job :) i thought maybe if we could prove savings of €1000 a month between us that might stand. this process is very confusing and i havent even applied yet
 
Re: Affordable Housing 3 months savings needed

I was saving €650/mth..single applicant (i think it was stated on some form..not 100% sure though)! They just need to see that you've got the finances and capability of paying a mortgage back so id stick with Phibbleberrys €1000/mth between the 2 of yee!
 
Re: Affordable Housing 3 months savings needed

its €650 per month for a single applicant and €750 for a joint one .. unless this has changed recently!
 
Re: Affordable Housing 3 months savings needed

thats brilliant, can i ask where you got your info from? thanks everyone for your replies, knew i would get an answer here, still never got a reply to my email i sent!!!!
 
Re: Affordable Housing 3 months savings needed

fingal used to have a faq section on their website about affordable housing, I can't see it there now but it was on that, and on the application form as far as I remember. I've looked on all the sites this morning and can't see anything but up to when I was applying around April this year they were the savings needed .. they may have changed since your prob better off ringing you could be waiting days on an email back!!
 
Re: Affordable Housing 3 months savings needed

thanks. since you applied in april have you gotten very far? (just out of interest)
 
Re: Affordable Housing 3 months savings needed

I applied nearly 3 years ago in Cork and am still homeless :rolleyes:
 
Re: Affordable Housing 3 months savings needed

dub0605 said:
thats brilliant, can i ask where you got your info from? thanks everyone for your replies, knew i would get an answer here, still never got a reply to my email i sent!!!!
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All the info for fingal is in a booklet about 12 pages long that you can print from thier web site. [broken link removed] it's pretty detailed. or you could ring them, they're usually helpfull.
 
Re: Affordable Housing 3 months savings needed

dub0605 said:
thanks. since you applied in april have you gotten very far? (just out of interest)
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I am due to sign soon on an apartment, its through the affordable homes partnership though which is seperate to the councils (I think, seems to be in fingal anyway) I had applied to fingal, south dublin, kildare and meath. With fingal I'm not even approved yet, had a letter from sdcc saying it'd be 18months, I have been offered an apt in Clonee with Meath recently. Is a very confusing process!! have a look on www.affordablehome.ie .. its a good site for information!
 
Re: Affordable Housing 3 months savings needed

I applied on the 29th of october last year and i'm getting the keys to my house on the 4th of october this year.
 
Re: Affordable Housing 3 months savings needed

Oh how do you know when you get the keys !!!!!!
 
Re: Affordable Housing 3 months savings needed

swordshead said:
I was saving €650/mth..single applicant (i think it was stated on some form..not 100% sure though)! They just need to see that you've got the finances and capability of paying a mortgage back so id stick with Phibbleberrys €1000/mth between the 2 of yee!
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yeah I've applied for a few schemes and saw somewhere between 650-750 a month
 
Re: Affordable Housing 3 months savings needed

here is the reply i got from my email sent to affordable homes:

"A consistent record of savings is a fundamental element of the eligibility criteria when applying for an affordable home. It is used to assess a person's ability to repay a mortgage consistently. I am aware, for example,in Fingal County Council that they require evidence of €650 savings each month. Now rent is taken into account as savings also. For example, you pay €500 per month rent to a landlord, you must be saving another €150 each month. You need a legitimate record of your rent payment to submit with your application, for example, a bank statement showing a payment going out each month. The rent record needs to be built up three months prior to submitting your application and then continuosly after you have applied until you get offered a house."

thanks for all your replies, cant believe how long some people are waiting and others get theirs quicker. hope when i do decide to go for it i aint waiting too long and get somewhere nice (thats another worry i have) even looked last night at cheaper properties to buy but as you can imagine there isnt that many :(
 
Re: Affordable Housing 3 months savings needed

Be as flexible as you can with the area you want to live and the time it will take..you should get offered more properties that way. I wasnt keen on blanchardstown originally but kept an open mind..and well..now im goin to be living there this time next month! Dont put a deadline on when you expect to be in somewhere, this is a v confusing process as you'll soon figure out..post on here if theres anything you're unsure of..and start saving now..you'll be glad of the money when your time comes around!:p
 
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