any advice for me new to affordable housing

C

cirbir

Registered User
Messages
51
hey guys
i applied for affordable housing in april got mortgage approval off ebs they are brilliant to deal with may i add. i know i be waiting now but dont know wat to do do i start looking at houses or will they tell me.
hellllpppp!!

thanks
 
well have a look at the relevant council website. they have affordable homes currently available there. also check out www.afforablehome.ie
though if a property becomes available in your area as far as i know the council contact you
 
First, did the council approve you by putting your name on their waiting list? If yes, then call them to ask which properties they have in your area and then, you can start searching for the house you like. Make sure to compare the council's price with other similar properties in the area. You'll be amaze by the tiny difference. 4 of my friends ended up buying their houses privately and do not have to worry about clawbacks and the developers are quite more flexible than you think.

In my case, I found out that there was only €15000 difference between what the council is selling theirs for and what the developer is selling his. So I went back to EBS to get preapproved for the difference. I got lucky and got it. So I dropped by the estate agent's office to see what I can arrange about the deposit, only to be told the price will be dropping down further in a week, hence my waiting.
 
Topsido said:
First, did the council approve you by putting your name on their waiting list? If yes, then call them to ask which properties they have in your area and then, you can start searching for the house you like. Make sure to compare the council's price with other similar properties in the area. You'll be amaze by the tiny difference. 4 of my friends ended up buying their houses privately and do not have to worry about clawbacks and the developers are quite more flexible than you think.

In my case, I found out that there was only €15000 difference between what the council is selling theirs for and what the developer is selling his. So I went back to EBS to get preapproved for the difference. I got lucky and got it. So I dropped by the estate agent's office to see what I can arrange about the deposit, only to be told the price will be dropping down further in a week, hence my waiting.
Click to expand...
so you got approved for the difference? as in the difference between the asking price and market price? (the 20% of value)
 
hi topsido
yes the council approved me got a receipt and everything from the council. did you apply yourself? was thinking if i applied for a mortgage privately but im doing this on my own might not have enough. it might be worth giving ebs a ring to find out they are very good to deal with

thanks for advice
 
thanks for the advice sfninja
are you on the affordable housing process too or have you got one already?
could do with some info thanks
 
sfninja said:
so you got approved for the difference? as in the difference between the asking price and market price? (the 20% of value)
Click to expand...

Yes I did. The difference between the council's affordable asking price and the developer's asking price which is €15k. I went back to ebs and told them that I want 100% mortgage for the affordable and that the new affordable property I had found was x amount (the amount the developer is asking for). After 2 weeks of stress testing, I got the full price. I then went to the developer and asked if I could reduce my downpayment and I need a very quick closing. So, I'm just looking for the 8% now since ebs with only give 92% if I am buying privately and 100% if it is affordable housing.
 
You must log in or register to reply here.
Back
Top