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Due to significant interest in the Newton Heights Affordable Housing Scheme, the Application Portal opening time and date is being extended by one week. The application portal will now go live on Tuesday 23rd August 2022.
Applications will be accepted via the Cork City Council online application portal which will go live on Tuesday, 23rd August 2022 at 12 noon. Applications may be made between 12 noon on Tuesday 23rd August 2022 and 12 midnight on Tuesday 6th September 2022. Applicants are advised to read the below, as well as the following documents:
Important Information
A total of 117 affordable homes, consisting of 25 nr. 2-bedroom houses & 92 nr. 3-bedroom houses are being made available for sale by Clancy & Lyonshall at the above referenced residential development under affordable dwelling purchase arrangements via the Affordable Housing Act 2021 and associated Affordable Housing Regulations.
The houses are available for purchase by buyers who do not own or have a legal interest in a dwelling, with some exceptions applicable.
• The 2-bedroom houses are being made available for purchase from €217,500.
• The 3-bedroom houses are being made available for purchase from €243,000.
All purchasers will sign up to an ‘Affordable Dwelling Purchase Arrangement’ with Cork City Council. Under this arrangement, Cork City Council will retain a fixed, second charge against the property, subject of the sale, equal to the difference between the market value of the dwelling and the price paid by the purchaser.
Cork City Council may not seek realisation of the ‘Fixed Charge’ before a 40-year period (with exception where a breach of the agreement occurs). A purchaser may choose to redeem the ‘Fixed Charge’ at any time, by means of one or a series of payments to Cork City Council.
To be eligible to apply for the scheme, applicants must satisfy the
following criteria:
1. Be a First-Time Buyer or meet the exceptions under the Fresh Start Principle.
2. To apply for a 2-bedroom property, gross household income for the preceding 12 months should be below €71,100.
3. To apply for a 3-bedroom property, gross household income for the preceding 12 months should be below €80,615.
4. Each person included in the application must have the right to reside indefinitely in the State.
5. The affordable home must be the household’s normal place of residence.
6. Applicant’s purchasing power must not exceed 95% of the market value of the property.
While not a requirement, it is recommended applicants have Mortgage Approval in Principle prior to applying for this scheme. This is to expedite the sale of units which are under construction across a five-phase delivery programme, with 22 units in Phase I available for occupation at the time of application and a further 15 units in Phase II available for occupation in Q3 of 2022.
Where the number of eligible applicants exceeds the number of affordable dwellings for which applications are made, applications will be prioritised in accordance with Cork City Council’s Scheme of Priority.
If the number of applicants exceeds the number of affordable dwellings for sale, the following will apply:
In respect of 70% of the dwellings, date and time of application, will be a ranking mechanism on which eligible applications will be prioritised under the Cork City Councils Scheme of Priority. In respect of the balance of 30% of the dwellings, priority to be given, on a lottery basis, to eligible applicants based on any person making the application being or having been resident in the current administrative area of Cork City Council for a minimum period of 5 years preceding the time of application.
