First-Time Buyers Offered Leg-Up On Property Ladder In Clare

The local authorities will host an information event on Affordable Housing in Glór Music Centre, Ennis on Wednesday 12th March 2008 from 3.30-8pm.

Members of the public will be provided with details of available properties throughout County Clare, as well as information on financing and eligibility criteria.

Speaking ahead of the launch, Councillor Joe Arkins, Chairman of the Housing Strategic Policy Committee, commented, "This event represents a coming together of the key players in the affordable housing market. For example, financial institutions will give advice and information to borrowers, a solicitor will provide general information on house contracts, the Affordable Homes Partnership will promote the concept of affordable homes, while the Clare Local Authorities will advise customers on current houses available".

Councillor Arkins continued, "This is an excellent opportunity for people to secure all the necessary information in a one–stop–shop type scenario and I am confident that many of the Council’s customers will benefit from the evening".

To date, a total of 196 houses have been made available as Affordable Homes and it is expected that a further 50 will come on stream later this year.

Currently, there are affordable properties available at Crusheen (prices average €179,000), Clarecastle (€184,000), O’Briensbridge, Ennis and Sixmilebridge (€185,000), Newmarket-on-Fergus (€194,200), Miltown Malbay (€199,250), and Lisdoonvarna (€200,000).

"This represents excellent value in the market at present, with prices starting at €179,000 for a three bed property", stated Mr. David Timlin, Director of Services with the Housing department of Clare County Council

He added, "The prices quoted include a fitted kitchen, downstairs toilet, master bedroom with an en suite, and exterior painting. These homes are an excellent option for a first time buyer and will suit either single or family units."

According to Cllr. Patricia McCarthy, Mayor of Clare, "It is important to remember that after 20 years, no repayment of the original discount is due. Therefore, for the person or family who wishes to purchase their own home and live in it for their lifetime, the Affordable Home is a fabulous opportunity to acquire a home at a discount of 20% to 25%."

The Financial Institutions, which currently provide mortgages for affordable houses, are Bank of Ireland, EBS, First Active, Haven Mortgages, IIB, and Ulster Bank. Representatives from these companies have been invited to distribute information leaflets, eligibility criteria and other information to members of the public at the upcoming information evening.

To qualify for affordable housing applicants must be a first time buyer, as a guide earn between €25k and €40k per annum, be currently employed in full time employment and must occupy the house on a full time basis. Single persons and couples may apply. If the house is sold within 20 years the applicant will have to pay back a percentage of the sale price to the Local Authority.

For further information contact the Housing Section of Clare County Council at 065-065-6846400 or see http://www.clarecoco.ie/Housing/Part_V_Afford_Housing.html.

-ENDS-

Note to Editor:
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Mark Dunphy
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