Affordable deposit

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affordable

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hello. am approved for Kiltipper Gate (well got letter saying to contact banks and that viewings were on) but i've not been told anything about money involved except a 3-000 euro booking fee.

What will be the deposit, someone has posted on another thread about Fingal requesting 34-000 euro for kettles lane. my wages will well cover a large mortgage so will i need a deposit. anybody been told anything further on this scheme?
 
booking fee is not legally binding and is merely to hold the house whilst the contracts are eing drawn up and signed. Most contracts seek 10% down on signing.
 
Thought that it would be obvious in that the deposit is the difference between the house price and your mortgage approval amount?
 
it may be obvious if the SDCC would let me know what the maximum mortgage amount is and what the property price will be. They won't. so my ability to see the obvious here is hampered somewhat
 
Yeah you need at least 3% of the purchase price of the property.
 
If you click the FAQ here for SDCC [broken link removed] it seems the max mortgage loan is €185k, guess you would be entitled to this if your salary allows.
Then subtract this from the property price to get deposit?
(all assuming your on Aff Initiative not Aff Scheme)
 
Hi affordable. Your deposit will be 3% of the purchase price, less the €3,000 booking deposit that you have already paid. The council don't decide the price of the properties themselves, they negotiate it with the developers. Hope this helps
 
The max. loan of €185,000 only applies to the standard affordable housing scheme. Under the affordable housing initiative the bank/building society will set a limit on how much you can borrow based on your salary, disposable income etc. If you chat to either the EBS or BOI, they will be familiar with the price ranges of the AHI properties and should be able to give you a rough idea of how much they will give you
 
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