{"id":9503,"date":"2025-07-10T15:13:56","date_gmt":"2025-07-10T14:13:56","guid":{"rendered":"https:\/\/findqo.ie\/blogs\/?p=9503"},"modified":"2025-07-10T15:13:59","modified_gmt":"2025-07-10T14:13:59","slug":"how-the-affordable-purchase-scheme-works-in-ireland","status":"publish","type":"post","link":"https:\/\/findqo.ie\/blogs\/how-the-affordable-purchase-scheme-works-in-ireland\/","title":{"rendered":"How the Affordable Purchase Scheme Works in Ireland"},"content":{"rendered":"Reading Time: <\/span> 5<\/span> minutes<\/span><\/span>\n

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For many first-time buyers in Ireland, the dream of owning a home can seem out of reach. With rising property prices and mortgage limits, even well-prepared buyers are finding it hard to secure a suitable home within their budget. Thankfully, the Affordable Purchase Scheme<\/strong> is designed to close that gap and help more people get on the property ladder.<\/p>\n\n\n\n

This government-backed initiative provides financial support to eligible buyers by reducing the upfront cost of newly built homes. In return, the local authority retains a percentage share in the property. It is a practical and sustainable approach to affordable housing, offering an alternative to long-term renting.<\/p>\n\n\n\n

In this guide, we\u2019ll explore how the Affordable Purchase Scheme Ireland<\/strong> works, who qualifies, and how you can apply.<\/p>\n\n\n\n

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What Is the Affordable Purchase Scheme?<\/h2>\n\n\n\n

The Affordable Purchase Scheme<\/strong> is part of the government\u2019s wider Housing for All strategy. It is a government housing scheme for first-time buyers<\/strong> who cannot afford to purchase a home on the open market but do not qualify for social housing.<\/p>\n\n\n\n

Under the scheme, participating local authorities<\/strong> offer newly built homes at reduced prices. The difference between the market value and the discounted price is covered by the local authority in exchange for a percentage equity share in the home.<\/p>\n\n\n\n

This shared equity model allows you to buy a home at a more affordable price, with no interest or monthly payments required on the equity portion.<\/p>\n\n\n\n

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How the Affordable Purchase Scheme Works<\/h2>\n\n\n\n

The Affordable Purchase Scheme<\/strong> operates through a straightforward shared equity structure:<\/p>\n\n\n\n

1. Discounted Purchase Price<\/h3>\n\n\n\n

When you buy a home through the scheme, the local authority offers a discount of up to 30 percent off the market value. You pay the remainder through a mortgage and your own deposit.<\/p>\n\n\n\n

2. Local Authority Equity Stake<\/h3>\n\n\n\n

In exchange for the discount, the local authority holds an equity share in your home equal to the percentage discount given. For example, if you receive a 25 percent discount, the authority owns a 25 percent stake.<\/p>\n\n\n\n

3. No Repayments for Equity<\/h3>\n\n\n\n

There are no monthly repayments or interest on this equity share. Repayment is only due when you choose to buy out the equity, sell the home, remortgage, or after a specified period.<\/p>\n\n\n\n

4. Full Ownership Still Possible<\/h3>\n\n\n\n

You are free to buy back the equity from the local authority at any time, either in full or in stages. When you repay, the amount is calculated based on the current market value of your home.<\/p>\n\n\n\n

This approach allows first-time buyers to access modern homes with reduced financial pressure, while maintaining the option to fully own the property in the future.<\/p>\n\n\n\n

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Who Is Eligible for the Affordable Purchase Scheme?<\/h2>\n\n\n\n

To benefit from the Local Authority Affordable Purchase Scheme<\/strong>, you must meet several criteria. These are designed to ensure that the scheme targets those most in need of support:<\/p>\n\n\n\n