Tenant Incremental Purchase Scheme 2016

From 1st January 2016 existing tenants of Limerick City & County Council have an opportunity to purchase their homes through an Incremental Purchase Scheme introduced under Part 3 of Housing (Miscellaneous Provisions) Act 2014.

There are a number of pre requisites which households must meet including :

  • Tenants/joint tenants must have minimum reckonable income of €15,000 per annum.
  • Reckonable  income must come mainly from regular employment and not solely from social welfare
  • Applicants must be in receipt of social housing support for minimum period of 1 year
  • Applicants are disqualified from purchasing as a result of having purchased before
  • Applicants must have a satisfactory rent record, and all charges up to date [i.e. Water charges etc]
  • Houses must be available for sale and not restricted as in past schemes [i.e. not houses specifically reserved for elderly, transitional accommodation, traveller accommodation,  in interests of estate management etc]

For income between €15,000 and €20,000 tenant purchase discount will be 60% of Purchase price  and an Incremental Purchase Charge of 60% will apply to house and be reduced by 2% per annum over 30 years

For income between €20,001 and €29,999 tenant purchase discount will be 50% of Purchase price  and an Incremental Purchase Charge of 50% will apply to house and be reduced by 2% per annum over 25 years

For income over €30,000 tenant purchase discount will  be 40% of Purchase price  and an Incremental Purchase Charge will apply to house and be reduced by 2% per annum over 20 years

For further information please contact Community Support Services on 061 557120. 

This service is provided by

Community Support Services

Phone +353 61 557140
Location
Limerick City and County Council, Merchant's Quay, Limerick, V94 EH90