Print this PageShared Ownership Scheme
Shared Ownership is aimed at people who can not afford to buy 100% equity of their home at the time of purchase. Ownership is shared between the applicant and the local authority, with the local authority taking at least a 40% share.
A mortgage is provided to the purchaser by the local authority (ie. a local authority annuity loan). The purchaser makes mortgage repayments on the share they own and pays a rent to the local authority on the un-owned portion. Full ownership is facilitated in two or more stages, with the time-frame to buy out the equity being a maximum of 25 years.
To be eligible for Shared Ownership applicants can earn up to €40,000 as a single applicant. For a two-income household, eligibility is based on the combined values of 2.5 times the larger salary plus the smaller salary. This combined income must be no greater than €100,000.
