Written answers

Wednesday, 4 February 2009

Department of Environment, Heritage and Local Government

Social and Affordable Housing

9:00 pm

Photo of Charlie O'ConnorCharlie O'Connor (Dublin South West, Fianna Fail)
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Question 237: To ask the Minister for the Environment, Heritage and Local Government the supports available to those wishing to avail of affordable housing; and if he will make a statement on the matter. [3741/09]

Photo of Michael FinneranMichael Finneran (Roscommon-South Leitrim, Fianna Fail)
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The various affordable housing schemes are designed to assist lower income households who find themselves priced out of the market. The schemes allow individuals to purchase a property at a significantly lower cost than market value. Generally speaking, the schemes are for the benefit of first time buyers.

Additionally, a mortgage subsidy or, as appropriate, a rental subsidy under the Shared Ownership Scheme, is available to further assist households with income below €28,000 in the previous tax year. This subsidy is intended to reduce the monthly outgoings of the purchaser. Alternatively, a mortgage allowance of €11,450 spread over 5 years is available to assist tenants or tenant purchasers of local authority houses and tenants of dwellings provided by approved voluntary housing bodies under the Capital Loan and Subsidy scheme, who return their accommodation to the body, thus making it available for re-letting, to become owner-occupiers of other dwellings, including affordable housing.

In addition to the various affordable housing initiatives, there is also a Low Cost Sites Scheme, which effectively allows housing authorities to determine an appropriate sale price of sites, whether developed or undeveloped, to eligible applicants in accordance with their circumstances.

As signalled by the Minister for Finance in Budget 2009, a new single streamlined Government Equity Scheme is to be introduced in relation to affordable housing. These new arrangements will introduce greater equity into the system and provide a basis for achieving greater consistency across the schemes and across different areas of the country. The greater protection of the State's investment will also mean that funds can be recycled into assisting further households with affordable housing.

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