Council Tenant Purchase Scheme.

[sydthebeat]

probably not the right forum (sorry!), but has anyone gone through this process and how did they find it??
did they get their mortgage from the council or sourced privately...?? what would others recommend.

thanks

 

[candygirl]

Hi, I went to buy my house from the dublin city council last year, I am in the house 20 years so I was getting full discount and €3800 for home improvements, It took a long time as in 12 months for the valuer to come out and when they did come out, they prised the house at market value which was fine but the property went down €50,000 in 7 months and I was still waiting on them to close the sale. I was getting my mortage from the bank, I pulled out as the property had gone down in price and the council werent reducing there price, its the price they value it at, at the time.

So Ill wait for a few years and go again. Its a slow process but a great discount I just hope the discount will always be there.

 

[sydthebeat]

Hi, I went to buy my house from the dublin city council last year, I am in the house 20 years so I was getting full discount and €3800 for home improvements, It took a long time as in 12 months for the valuer to come out and when they did come out, they prised the house at market value which was fine but the property went down €50,000 in 7 months and I was still waiting on them to close the sale. I was getting my mortage from the bank, I pulled out as the property had gone down in price and the council werent reducing there price, its the price they value it at, at the time.

So Ill wait for a few years and go again. Its a slow process but a great discount I just hope the discount will always be there.

in laois they direct the client to an auctioneer, but they did say to me that i could get it independently valued as well if i wasnt happy with the council appointed valuation..... is that not an option for you?

 

[candygirl]

Hi Yes I was able to do that , but they were still going with there price!
anyways market wasn't a good time to buy and still not I think.

 

[MandaC]

Ah the good old tenant purchase is still there. My parents purchased under this in the early 70's and got the deeds of the house just June gone, after 35 years of paying the equivalent of IR£7.00 per week (€10)

They got the loan through the County Council (SDCC) as they would not have been given a mortgage at the time through a Bank. The rate from the Council was very high (think it might have even been up to 14%), having said that, it was 35 years ago, so I am not sure if they are still charging these high rates.