Shared Ownership

Hoopsunited2

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I have been approved for shared ownership under Dub city co but am finding it difficult finding a property - is there anywhere where the boundries of dub cit co & fingal are laid out. I seem to keep going for fingal.

Fingal don't do the shared ownership scheme so I can't swap over.

Thanks i'd appreciate any feedback.
 
Hi Hoops,
The main thing I would advise is for you to decide on your first preference of area or number of areas you would like to live in and have a good look at properties both on the open market and within the AH schemes within whichever Local Authority they fall. Have you talked to the housing departments within either to enquire how both schemes are now progressing or if the proposed rent to buy schemes are close to getting off the ground? If the amount you have been approved for by DCC isn't sufficient to meet the prices the market is still demanding in that area AH may be your best bet if that ends up being where you really want to live. Likewise if Fingal is where you would prefer to live have a look at what is on offer there under AH, I know SDCC had an office in the Town Hall in Tallaght where they had details of their schemes, maybe both Fingal and DCC have the same?
Many people have experienced problems with both Shared Ownership (due to the high repayments as rent and a high variable mortgage are both charged along with increased equity) and AH (due to valuations recently) enquire as best you can on the net or through friends how the particular scheme has operated if and when you find somewhere you may be interested in buying.
Have you applied for a mortgage on your own as yet to see if you can purchase without needing to go either route?
Best of luck
 
thanks for the advice.
Yeah i think fingal is where I prefer so i might go into the fingal co council office and have a chat. I've heard about that rent to buy scheme but don't fully understand the implications maybe i should check that out too. I don't think it's properly up and running in dublin yet though by the looks of the website.
I would love to be able to get the mortgage alone but I wouldn't have the savings for the deposit of a 92% mortgage - bloody problems every which way you turn.
 
If you havent got 8% saved Hoops I think you should keep saving especially as rates arent going to stay at the really low rates they are at the moment for much longer. My two pence worth.
 
Thanks for the advice everyone.

EBS do a 100% affordable mortgage so i've contacted them and i'll get my paperwork together to apply for the affordable. No harm having my finger in every pie ;).

In the meantime i think your right keep saving towards the 8% at the end of the day if you can do it on your own your really better off. 20k is a hell of a big mountain though.
 
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