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Affordable Housing Scheme

Affordable homes are properties made available at a discount to the price that would normally be paid if the house was bought on the open market. Affordable homes are provided on the basis that you will live in the property and not use it for any other purpose.

Do I qualify for an affordable home?

To qualify there are some basic criteria you must meet:

• You must be a first time buyer (but they are some exceptions, for example if you are divorced)
• You must have enough income to meet your mortgage repayments after you have paid all your other costs;
• You must be registered with your local authority

How do I get started?
You will need to get in contact with your Local Authority who will provide you with an application form and details of the affordable homes available in your area. A useful website to check out is www.affordablehomes.ie. Once you have registered with the Local Authority to qualify for a home you will need an approval in principle from a lender. Money Options will help you with the application process and get approval for you. Once you have received an Approval in Principle you register this with the Council. If you are offered a property that meets your needs the local authority will issue you a "Confirmation for Lender" certificate. This will be needed by your lender to progress your application, Money Options will look after this process for you right through to getting the keys to your new home.

What Can Money Options Offer me?
Money Options can offer a great Mortgage Deal that offers options when choosing an Affordable Housing Mortgage:

• 100% Finance Available - up to 100% of the discounted purchase price meaning no deposit required.
• 40 Year Loan term - Keeping your repayments as affordable as possible
• Great Rates - A choice of highly attractive Fixed Or Variable rates