Affordable Housing Initiative Greater Dublin Area-Dublin, Kildare, Meath and Wicklow

BobbyG, I got a letter of confirmation for the paddocks in adamstown. I rang propertypath to check what you said and the girl told me that I just need to get an idea of how much I can borrow from the mortgage provider so that on the day of viewing that I don't put a deposit on a property I can't afford. She said if I do get a mortgage sorted before viewing that I can forward it on to them but that it's not required for me to be contacted by the estate agent. Am a bit worried that they have givin two different answers though
 
Hi Cheeus,

Can you send them via private message? If not send me a private message and I can give you my email address and you can send them to me via email if that's ok with you?
 
Hi Gavbyrne,

It seems like they are all giving different stories in the council. To be honest I do think they will need some sort of proof that you can borrow the amount the bank approve you for so to be on the safe side I would just fax them a copy of what the bank approve you for.
 
Ye have started organising my mortgage anyway so will send them a copy of the approval when I get it. She just said that if you put down the deposit and then can't get a mortgage, then you lose the chance to purchase the property and someone else will be contacted.
 
Cheeus said:
Floorplans for block 3 are now available on the sherlockhomes website.
Click to expand...

Correction to earlier post. I got block 3 floor plans yesterday on Sherlockhomes. They are block 1 now? Still have the pdf so they were definitely there. The block is a mix of 1 and 2 in the block, 24 2 beds in total.
 
Hi Cheeus,

We were told that all the affordable homes would be in block 3 and there are 24 affordable apartments in total so I would imagine these 24 are the ones we will get to pick from.
 
Hi

I have just been to see the show appartments in priorsgate which just happen to be in block three. I couldnt imagine everyone from the affordable housing will get a 2 bed appartment there i could be wrong tho.Also an parking space is not included witht he appartment there is an additionally charge of 15000 if you want ot buy one
 
Hi Anxious,

Are the apartments nice? I wont be able to go to see them till Saturday?
 
Ye they are lovely.The show room is 70 sq mt.So it was pretty big.The bedrooms are a good size.The kitchen/sitting room area is a bit small but ok. I was impressed so im just waiting for mortgage approval.The estate agent reckons they will be ready june/july a bit earlier than planned
 
June/July? dear god I was hoping it would be closer to the end of the year so I could get some more money saved!
 
Hey

Does anyone know if we have to get our own solicitor or whether that is done thru the council?
 
Hi Anxious,

I think you have to organize your own, my mortgage broker has organized one for me.
 
Hi all

I rang the council to ask about the parking space - the developer has confirmed that a parking space is included in the affordable price for Priorsgate : )

The person I spoke to also said the developer just told her that an apartment like the affordable ones will be on show on Sunday. I'm not sure, but I got the impression that we shouldn't think that what we'll see in the general show apts will be the same?

We definitely need our own solicitors. I rang a few in Tallaght thinking they might have experience of affordable contracts. The cheapest quote I got was for €1,700 all in - that includes vat and outlays. Cheapest mightn't necessarily be the best though.
 
Hi All,

I also rang the council today with regards to the section 23 relief for owner occupiers, the affordable homes in Priors Gate DO qualify for this relief. It's basically a percentage of the overall cost of the apartment, this percentage is giving to you over 10 years and it reduces your total income each year therefore reducing your tax bill each year.
 
When you put your bookign deposit down the estate agents will give you a few pages with solicitors and their fees (all the same) well Douglas Newman Good did anyway.
 
Hi BobbyG

I always thought section 23 was applicable if you were going to let out your place. But actually there's something we can claim? Is it because we're purchasing in an area under renewal or something?

So is there extra tax relief we're entitled to in addition to that given to FTBs in the first 5 years?
 
Hi Cheeus

We are entitled to claim 50% of the relief the investors would normally get and this is spread over 10 years so you would get 5% per annum. Basically if an investor is entitled to 80 000 relief we would be entitle to 40 000, and you would get 5% each year. Therefore in this example you would get 2000 each year, and this 2000 is used to reduce your total income each year.
 
That's great news. It brings mortgage payments down to what you'd pay renting. Thanks for that!
 
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