This scheme helps households who, using their combined deposit and maximum mortgage, cannot afford to buy a home at its open market value. Newly built homes are made available in areas where housing need and affordability are most acute. The scheme is primarily aimed at first-time buyers, but provision is also made for:

Applicants must have a legal right to reside and work in the State and be able to demonstrate that they are habitually resident in Ireland.

To qualify, your purchasing power must be less than 85.5% of the open market value of the home. Your purchasing power is the combined total of:

** Note on savings: You can hold the deposit amount plus an additional €30,000 and still qualify. Any savings above this are added to your purchasing power — if this pushes your total above 95% of the market value of the home, you will not be eligible for the scheme.

Alternatively, if you have proof from a bank or financial institution that you cannot obtain a mortgage for 85.5% of the market value, you may also qualify on that basis.

You can use the purchasing power calculator at affordablehomes.ie to check whether you are likely to qualify before applying.

The price you pay and the equity share the local authority takes in your home are calculated by the local authority, based on your maximum mortgage capacity and the minimum price set for the home. The maximum equity share the local authority will take is 40% and the minimum is 5%.

You can use the Local Authority Home Loan or the Help to Buy Scheme alongside this scheme where eligible.

Each local authority introduces its own affordable housing scheme and manages the application process. When homes are available under the scheme they will be advertised on the local authority’s website and in a local newspaper. The advertisement will include details about the scheme including how and when to apply. You apply for affordable homes as they become available and are advertised, there is no central application system.

In most cases, you will apply online where you input your information and upload any additional documentation. In the application, you may need to:

You should apply for homes that you can afford with the scheme and that suit the size of your household. You must submit your application by the closing date for the scheme.

You must buy back the local authority’s equity share in your home after 40 years. You can buy it back before then and you can make repayments at any time – your Financial Advisor can explain why this makes good financial sense to do so where you have affordability. You can buy back the full equity share in one payment or pay it back partially as you can afford to. However, the minimum repayment is €10,000.

If you decide to sell your home, you must pay off the equity share in your home. If you die, the equity share must also be paid off.

The equity share in your home is a percentage of the market value of your home. So, if property prices increase, the amount you have to pay back will increase. For example, if you bought your property in 2023 for €380,000 and the local authority provided equity of 20% or €76,000 and you want to buy back the equity share in 2025 when the property is valued at €400,000, you will have to pay 20% of this, which is €80,000.