‘Significant progress’ made in delivering affordable homes, Tánaiste says at visit to Cork development

“Significant progress” is being made in the delivery of affordable and cost rental homes, the Tánaiste has said.

Micheál Martin was speaking following a visit to a Project Tosaigh development in North Cork on Friday.

Mr Martin met with new homeowners in Clonmore in Mallow, a development of 95 A-rated homes, which was delivered by the Land Development Agency (LDA) in partnership with Cork County Council and the O’Flynn Group.

“I am delighted to visit Clonmore and to meet new homeowners of affordable purchase homes,” Mr Martin said.

“The Government has ambitious targets to deliver affordable and cost rental homes and significant progress is being made by the LDA and local authorities.

“We are conscious of the pressing need to maintain momentum in this regard and to continue to ensure the delivery of more housing, but it is also good to recognise successful projects that are already delivering and to meet and engage with the homeowners who have benefitted from the work and the considerable investment involved,” he continued.

Fianna Fáil councillor Pat Hayes, deputising for the Mayor of the County of Cork, described the Clonmore development as “an excellent example of what can be achieved by local authorities working in partnership with developers and the LDA”.

The Tánaiste’s visit to Cork comes as the LDA has called on more would-be homeowners to check if they are eligible under the First Homes and Local Authority shared equity schemes and has suggested that people looking to purchase a new home should consider applying for homes in existing and future developments.

Affordable homes are made available to would-be homeowners who do not qualify for mortgages or other state backed housing supports due to their income levels, but who are also struggling to otherwise purchase their own house.

Homes can be purchased through two different schemes, the Local Authority Affordable Purchase Scheme and the First Home Scheme (FHS).

In both cases, purchasers can buy back the First Homes or local authority’s stake at any time but are not obligated to repay it until the ultimate sale of their home.

In Clonmore, homes are currently available for occupation under the First Home Scheme.

Affordable purchase homes have also been launched by the LDA in Summerfields, Kilbarry in Waterford.

The 92 homes in Kilbarry are being delivered through a partnership involving the LDA, Waterford City and County Council and the Whitebox Group.

Chief executive of the LDA, John Coleman called on would-be homeowners to consider purchasing a home in the Cork and Waterford developments.

“It is vital that they examine the qualifying criteria to determine if they meet them thus enabling them to purchase their own home.

“Full details are available on our website or through Sherry Fitzgerald New Homes in Cork and Liberty Blue in Waterford who will be able to assist prospective purchasers in relation to the process,” he said.

“These schemes are open to households who are effectively locked out of the housing market because they earn too much to qualify for other state backed housing supports, but not enough to purchase their own home in the private market without the support of the shared equity schemes.

“The schemes simply offer financial support in return for equity, but ultimately the homeowner owns the home and benefits from the security of having an affordable mortgage.”