Rural renewal scheme

P

PatriciaW

Guest
We have just started paying back our mortgage and are applying for the rural renewal scheme. My husband was asked by Revenue yesterday if we would like to get this money in a lump sum or in amounts paid each month. we can see advantages and disadvantages to both, for example, by getting the money in one lump sum we might be able to put in a heating system that uses less oil and adds value to the house. However, it might mean that if we sold the house before the term of the scheme is up (10 years), we would probably have to pay back the balance.

Any suggestions on which is the best course of action?

Also, is the rural renewal a set amount, or is it calculated based on the cost of the house, or is it related to the amount of the mortgage?
 
It's a set amount based on the cost of the house.

Did you build it yourself or buy it from a builder?
 
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