Advice for 1st time buyer

wheeler dealer

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I have a friend who is keen to get on property ladder ,she is single mother with 2 kids on about 600/week gross with a secure ps job ,100k is about as much the banks will give her .She should be easily able to come up with 20k deposit but she would be very lucky to be able to buy anything suitable for 170/180k .I see there is a first home scheme but does anyone know how this works exactly and is there anu other help to buy schemes for s/h homes ,she would be shy about 50k in the current market ,all sugestions welcome
 
If she is on 100k, its likely she works in Dublin right?
I dount there would be properties for 170/180k in Dublin or the surrounding areas.
Borrowing or early inheritance from family may be an option
 
I presume she has fallen into the 3.5 time earning rules.? There are exceptions to that and it might be worth speaking to a broker as to the art of the possible but it is only going to increase her pot by perhaps 20-30k

Citizens Advice might be the best place to start off
 
She should look on her local council website for homes for sale under the affordable homes scheme.
Here are some examples from Fingal - every council runs its own system and decides who gets to live there, so you need to apply for each scheme individually.
Looking at her income, if she's in Dublin there really isn't much available for her. If she's not however, might be more promising.

Looking at the eligibility indicator here she might struggle to qualify though.

Basically there's a number of things going on
- first, she might qualify for Help to Buy (depends on how much tax she's paid in recent years which might not be very much)
- second, the affordable homes sold by councils have a "minimum price" which is the maximum discount possible
- third, the council can take up to 25% equity, meaning she doesn't have to buy the whole thing in one go

Cost rental might be a viable option for her, but I would encourage her to go to housing list and see if its possible for her to qualify for AHB schemes in her area. Its almost impossible to buy homes anywhere now with just 600 euros per week gross. I was earning 1435 per week before I even dared pick up the phone to the bank.
 
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