If you are a local authority tenant – you can apply to purchase the house from your local Council. You only have to have been a tenant in a local authority house for a year before you can apply to your local authority to buy it, either outright or through shared ownership. (Shared ownership minimum purchase is 40%)
In general, all local authority houses are included, with the exception of houses provided for and occupied by elderly people and flats. Local authorities can exclude houses for reasons of good estate management, because of their structural condition or if they have proposals to carry out remedial works to them.
Apartments or flats are not included in the tenant purchase scheme.
The price of the house will be its market value as determined by the local authority in its existing state of repair and condition, minus discounts. The structural condition of the house will be taken into account and any increase in the market value due to improvements you made to the house will be disregarded in calculating the price.
If you disagree with the local authority’s valuation of your house, you can contest it by getting a valuation certificate from a qualified valuer. If there is a significant difference between the local authority’s original valuation and the valuation submitted by you, then the local authority will refer it to the Valuation Office.
Mortgage
You can either get a mortgage with a bank or building society or you can apply to your local authority for a local authority mortgage.
You will be allowed a discount of 3% of the value of the house for each year of the tenancy of a local authority house up to a maximum of 10 years plus 3,809.21 euro.
No stamp duty is payable on the house.
If you want to sell the house within 20 years of the date you bought on or before you have acquired full ownership, you must get the consent of the local authority.