If I am successful in the lottery I had hoped to qualify for a mortgage under the shared ownership scheme. However as I done some overtime last year which has since been stopped, I no longer qualify for the shared ownership scheme as I earned slightly over the €40,000 income threshold.
The last increase in the income limits for the Shared Ownership Scheme happened in January 2006 and the income threshold then was €40,000 for the year ending 31st December 2006.
Since then we have had the Towards 2016 partnership agreement which will expire later this year.
The Towards 2016 Partnership agreement gave cost of living increases of 10%cumulative (3%, 2%, 2.5%,2.5%).
All persons who would have qualified by earning €40,000 in January 2006 would now see their income increase to €44,151.46 by September 2008.
This is just a basic cost of living increase.
I have been on the Affordable Housing Part V Panel since August 2004 but have not secured a property in the ‘Lottery’.
I do not know if the Minister is aware that the only Affordable Housing Initiative offered by Dublin City Council was in February 2007, However to qualify for those properties you had to earn over €45,000 in the previous tax year (2006).
Therefore a large group of people are in limbo i.e. those earning between €40,000 - €45,000 have been excluded from applying for either the Shared Ownership Scheme or the Affordable Housing Initiative.
In fact the only scheme they could apply for was Part V Affordable Housing which in Dublin City Council is a lottery with a very slim chance of being drawn from the lottery.
The latest Affordable Housing Newsletter offered by Dublin City Council has many properties over €250,000. The majority of affordable housing applicants could not raise a conventional mortgage of this amount and would previously have used the shared ownership scheme as a way of securing a mortgage their affordable home.
Minister O'Keeffe has plans to abolish the shared ownership scheme.
Please lobby your local td, councillor or Minister O'Keeffe to try to prevent the end of the shared ownership scheme!
Regards
The last increase in the income limits for the Shared Ownership Scheme happened in January 2006 and the income threshold then was €40,000 for the year ending 31st December 2006.
Since then we have had the Towards 2016 partnership agreement which will expire later this year.
The Towards 2016 Partnership agreement gave cost of living increases of 10%cumulative (3%, 2%, 2.5%,2.5%).
All persons who would have qualified by earning €40,000 in January 2006 would now see their income increase to €44,151.46 by September 2008.
This is just a basic cost of living increase.
I have been on the Affordable Housing Part V Panel since August 2004 but have not secured a property in the ‘Lottery’.
I do not know if the Minister is aware that the only Affordable Housing Initiative offered by Dublin City Council was in February 2007, However to qualify for those properties you had to earn over €45,000 in the previous tax year (2006).
Therefore a large group of people are in limbo i.e. those earning between €40,000 - €45,000 have been excluded from applying for either the Shared Ownership Scheme or the Affordable Housing Initiative.
In fact the only scheme they could apply for was Part V Affordable Housing which in Dublin City Council is a lottery with a very slim chance of being drawn from the lottery.
The latest Affordable Housing Newsletter offered by Dublin City Council has many properties over €250,000. The majority of affordable housing applicants could not raise a conventional mortgage of this amount and would previously have used the shared ownership scheme as a way of securing a mortgage their affordable home.
Minister O'Keeffe has plans to abolish the shared ownership scheme.
Please lobby your local td, councillor or Minister O'Keeffe to try to prevent the end of the shared ownership scheme!
Regards