Under the Local Authority Affordable Purchase Scheme, Cork City Council is helping people on moderate incomes to buy new homes at reduced prices. The Scheme is designed to help you bridge the gap between what you can afford to pay currently and the price of your new home. 

Eligible applicants must purchase as much of the property as they can, using a mortgage and their deposit, subject to the set minimum price of each house. Cork City Council then take a ‘percentage equity stake’ in your home. For example, if a successful applicant purchases 85% of their home, Cork City Council will take a 15% equity interest in the property. 

The Local Authority Affordable Purchase Scheme is primarily aimed at first-time buyers, with a few exceptions, and to be eligible you must show that you meet a number of requirements:

• You must be able to fund the purchase of your chosen property – you will need mortgage approval and a 10% deposit. Applicants who cannot show that they have access to sufficient finances to purchase a property will not qualify for the Scheme. 

• You must be over 18 years of age and have a right to reside indefinitely in the Republic of Ireland
• You are a First-Time Buyer or qualify under the Fresh Start principle*
• Income Limits apply to each scheme and house type 
• You are purchasing the property as your home.
• You have not previously bought or built a property to live in (with the exception of Fresh Start applicants*)
• You cannot hold an interest in any another property
• You cannot have more accumulated savings than the money required to cover the deposit for the home and an additional €30,000. Anything above this is added to your purchasing power. And, if this goes above 95% of the market value of the property you are not eligible for the scheme.
• People who are married or in a civil partnership, or who are in a committed relationship and intend to reside in the home with their partner must apply jointly. Mortgage approval in Principle and Revenue’s Help to Buy (HTB) approval must also be in joint names.

• You will need to provide us with all the documents we need to assess your application. Incomplete applications cannot be assessed and will not be considered.

• *You may qualify if you are ‘Fresh Start’ applicant i.e. if you previously owned a home, but you no longer have a financial interest in it because you are now divorced, separated, or your relationship has ended, or you have gone through personal insolvency or bankruptcy. Please contact us at affordablehomes@corkcity.ie for more information. 
• You must be able to show that you can at least meet the advertised minimum purchase price of the house. Depending on your purchasing power, you will pay between the minimum purchase price and the maximum purchase price, details of which are available for each scheme and house type. 

The equity share amount that you require cannot be less than 5% of the market value of the property. If you require less than 5% equity share, you will not be eligible for the scheme. 

• Applicants MUST have sufficient finances in place at the time of assessment to show they can meet their purchase price. The total amount of your savings / HTB if applicable/ Approval in Principle must equal at least the minimum purchase price of the property you have applied for. You must be able to purchase your home with a mortgage and a minimum of deposit of 10%. 

• You will need to qualify for Mortgage Approval with a lender.  
• You must borrow the maximum amount available to you (usually 4 times your gross household income).
• You have a minimum deposit of 10% of the purchase price
• While it is not a requirement, it is strongly recommended that applicants have their Mortgage Approval in Principle prior to applying for Affordable Housing.
• While you can apply for the scheme without mortgage approval, it is very important to note that you will be required to show mortgage approval when we start assessing your application.  You should also be aware that Cork City Council may start the assessment of your application very shortly after you have submitted it. 
• If you do not have mortgage approval when we are assessing your file, you will be required to submit it within 5 working days and no later than 5 working days after the online portal closes for applications. 
• In a very limited number of cases, applicants may not be able to avail of a mortgage of four times their gross household income. If you apply for the Scheme with a lower mortgage amount than we would expect based on your income, you will be required to provide Cork City Council with evidence that you cannot get a higher mortgage amount from your bank or financial institution.  Applicants will be required to provide Cork City Council with the evidence the Council requires, in the format requested, within the timeframe given. 
• Note that applicants cannot choose to avail of a lower mortgage than that which is available to them. You must apply for the Scheme with the maximum amount of mortgage you are entitled to.
• Some applicants with a higher income may also be eligible if their lender will only provide them with a maximum mortgage which is less than 85.5% of the market value of the dwelling. Please note, evidence that an applicant cannot avail of a higher mortgage is required in the format requested by Cork City Council. Please contact affordablehomes@corkcity.ie for more information.
• You must provide Cork City Council with details of ALL your savings, on headed bank statements in your name, dated within the last three months. All savings details must be submitted with your application. 
• If you are using a gift to help you to finance the purchase of your property, you must provide details of the gift on a standard bank gift letter, clearly showing the name and address of the person making the gift and the amount of the gift. The gift letter should also state that the person making the gift understands that they will have no interest in your home if your application is successful and that the gift does not need to be repaid. You can download a standard gift letter from any main bank website. 
• Please note that future /projected earnings / bonus etc cannot be taken into account in your application. Applicants must have sufficient finances in place at the time of assessment to show they can meet their purchase price. 

• The purchase price you pay is calculated using your mortgage approval in principle and/or your financial ability to pay the minimum purchase price, whichever is greater. 
• All Affordable properties advertised show a minimum and maximum purchase price, and the determined purchase price for each applicant will be within this set price range. 
• Applicants cannot choose to avail of the minimum purchase price – each applicant’s purchase price is determined in accordance with their gross household income and purchasing power in accordance with the Income Assessment Policy. 
• Applicants must apply with the following information:  
  • Mortgage capacity, typically 4 times gross household income, plus, 
  • Help to Buy if applicable, plus, 
  • Savings information 

Your purchase price is calculated as follows:

Mortgage approval amount, divided by 9, multiplied by 10. 

If this amount is less than the minimum set price for your chosen property, you will pay the minimum purchase price. 

• Applicants should confirm through the online portal application by self-declaration that they are a first-time buyer and/or Help to Buy approval is obtained from the Revenue Commissioners.
• If you are a first-time buyer, you should make a Help to Buy claim to Revenue. Your HTB claim will help you with the deposit you need to purchase your new home. 
• Please also note that Local Property Tax (LPT) checks are conducted on all applicants.

No, the Local Authority Affordable Purchase Scheme and the First Home Scheme are both shared equity schemes but are administered independent of each other.  Purchasers cannot use the First Home Scheme to finance a Local Authority Affordable House Scheme.

• The equity share is the percentage of the open market value the local authority will contribute to the purchase of your affordable home. 
• Cork City Council will provide an affordable dwelling contribution towards the purchase of your home directly to the Developer. 
• The amount provided will be the difference between your determined purchase price (see FAQ /4) and the open market value of the home on the date you purchase it. This contribution will be expressed as a percentage and represents the equity share Cork City Council will retain in your home.
• You must buy back the local authority’s equity share in your home after 40 years. But, you can buy it back before then and you can make repayments at any time. 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. 
• Certain events will automatically trigger the repayment of the equity share, these are known as ‘realisation events’. In general, the most typical case is when you sell your home. Other events when this may occur include, but are not limited to, bankruptcy, the property being subject to a Compulsory Purchase Order, or abandonment of the property, or in the event of the death of the homeowner(s).
• 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 Cork City Council 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.
• Purchasers will be required to sign ‘Affordable Dwelling Purchase Arrangement’ with Cork City Council. The Affordable Dwelling Purchase Arrangement is the legal agreement setting out the terms and conditions under which Cork City Council provides the Affordable Dwelling Contribution to you and that they will acquire an equity share in the property. This will be signed prior to the closing of the purchase of your affordable home.
• The Affordable Dwelling Purchase Agreement sets out how the affordable dwelling equity share can be redeemed by you as the homeowner and realised by Cork City Council. The agreement covers the obligations of you as the purchaser, and Cork City Council to each other and makes provision for the registration of the agreement with the Registry of Deeds/Land Registry. The agreement will also set out a valuation mechanism and when and how you, the homeowner, can make redemption

• Under the Scheme of Priority for Affordable Dwelling Purchase Arrangements where the number of eligible applicants exceeds the number of affordable dwellings for which applications are made, applications will be prioritised in line with the Cork City Council’s Scheme of Priority. A copy of this document is available in the Related Documentation Section. 

Priority will be given on the following basis:

Cork City Council’s Scheme of Priority will apply in the event where there are more eligible applicants than affordable homes available.

Where there are more eligible applicants than homes available, Cork City Council will apply the criteria below:

• Households of at least 2 persons will be given priority for three-bedroom homes.
• 70% of the homes will be allocated on a first come first served basis, to applicants who have submitted a complete application.

• The remaining 30% of homes will be assigned via randomised lottery, to eligible applicants who are or have been resident in the administrative area of Cork City Council for any five year period.  

Persons who may be accepted as part of an applicant’s household:

1. The partner (aged 18 or over) of the applicant (note that applicants in a committed relationship must apply jointly)
2. A person that Cork City Council accepts as suitable for inclusion on the basis of an accepted commitment or dependence, such as being a designated carer in receipt of Carer’s allowance;
3. Dependent children ordinarily living with the applicant on a full-time or part-time basis. The applicant may be asked to provide some evidence of the dependency and residency.
4. Persons residing with the applicant who, in the opinion of the Administrative Officer should be considered a member of the applicant’s household, regard being had to all circumstances, including the length of time resident with applicant.

• All applications are via the Online Portal – there is no general application form or waiting list. 
• Please note, you cannot register for the online portal in advance, you must register when the portal goes live on the date the portal opens.
• On the day the application portal opens, you will be required to register on the portal before you can proceed to application stage. You can then proceed to complete the online application form and upload the requested documentation. 
• Supporting documentation is required when you make your application, and it is very important that you provide all the required information. 
• Your application details and data submitted will only be retained for the development you apply for and will not be carried forward to any future affordable housing developments.
• You should only submit one application per affordable development. Multiple applications for a development will not be considered. All information provided in your application must be true: providing false or misleading information will disqualify you from the Scheme.

• The following information is required:
  • Personal details (e.g. name, date of birth, PPSN),
  • Confirmation that you are a First-Time buyer or that you qualify under the Fresh Start principle,
  • Evidence of the total gross annual income for your household for the preceding 12 months
  • Evidence of your 10% deposit and any savings, i.e., bank statements,
  • Evidence of your right to reside in the State,
  • Evidence of how you intend to finance the property, i.e., mortgage Approval –in Principle letter.

A checklist of all the documents required to apply is contained in the Related Documentation Section and should be read in conjunction with these FAQ’s. 

• Applicants who submit incomplete applications will be contacted to request outstanding information and it is only when all the relevant information is received that your completed and submitted application will receive a date and time stamp. 

It is the responsibility of each applicant to ensure that all required information and documentation is submitted at the time of application. Failure to do so could result in your application being deemed invalid.

Step 1: REGISTERING: Register with the online platform. You will need the following information: Your Full Name, a valid & active email address & a Mobile Phone Number. You will generate a registration verification number via text message, which you will enter to complete the set- up process. 

Step 2: LOG ON: You will then be able to log on to the online platform to begin your application process. Again, as part of this login, you will generate a verification number via text message to your mobile device. You will then need to enter this six-digit code to log in. 

Step 3: THE APPLICATION: You will be presented with 5 tabs. If you are a single applicant you will need to complete 4 tabs and if you are a joint applicant, five tabs will need to be completed. 

Tab 1: Application 

This tab will contain the general scheme information, such as scheme name, single or joint application, number of household members to reside in the house, type of property you are seeking etc. 

Tab 2: Applicant A 

This tab will contain the specifics of the principal applicant: name, date of birth, PPS number, Marital status, Nationality, contact telephone numbers and email, current address, employment details, previous year’s gross income details, the option to add details of other dependent household members (name, date of birth, age) 

You will also be required on this tab to upload documents in relation to the following: proof of income (Salary Cert and Employment Detail Summary), proof of citizenship, proof of right to reside in Ireland, proof of buyer status i.e. Help To Buy, and proof of address. 

Tab 3: Applicant B 

This tab must be used where there is a secondary or joint applicant. The same details as above will be required. 

Tab 4: Finance 

All applicants will be required to provide evidence of their ability to finance the purchase of their selected property, i.e. mortgage approval in principle letter, Help to Buy amount if applicable and proof of savings i.e. recent statements. 

Tab 5: Declarations 

You will need to agree to a number of declarations in relation to your application e.g. the information you submitted is true and accurate, etc.

Your application will be assessed, and Cork City Council will determine your eligibility for an affordable home. When all applications have been assessed we will contact all applicants via the portal to advise if their application has been successful or unsuccessful. If you are successful, we will pass your details onto the estate agent who is dealing with the scheme, and you will begin the process of buying your new home.