COMHAIRLE CONTAE ÁTHA CLIATH THEAS
SOUTH DUBLIN COUNTY COUNCIL

MEETING OF TERENURE-RATHFARNHAM AREA COMMITTEE (2)

Tuesday, September 09, 2008

MOTION NO. 1

MOTION: Councillor P. Cosgrave

CATHAOIRLEACH'S BUSINESS

"That this Council set up a new scheme within the Affordable housing scheme in Terenure-Rathfarnham area for people who are over fifty and have gone through marriage or partner separation. In most cases this leaves them with a small settlement and unable to get back onto the property ladder."

REPORT:

The affordable housing scheme adopted by South Dublin County Council on 14/04/03 makes provision for the current housing circumstances of eligible persons to be taken into consideration.In cases where the applicant(s) are coming from a marriage or partner separation, the Council's Affordable Housing section looks at all the possibilities available to aid the applicant qualify for the Affordable Housing List. South Dublin County Council can only consider the advancing of a mortgage to applicants between the ages of 18 and 65 ,which  must be paid by the time that the home purchaser turns 65 ; The maximum term of the loan is 30 years . However since last year applicants may secure a mortgage from one of 6 lending institutions who have signed up to the Affordable Housing Scheme and may be able to negotiate a longer repayment term or conditions.

In deciding to grant a mortgage to an applicant the Affordable Housing section must ensure that the purchaser(s) has enough income to meet the mortgage repayments after all other outgoings have been paid.  Mortgage repayments must not involve the use of more than 35% of net.income (gross income less income tax and P.R.S.I.)