Westmeath County Council’s showcase of affordable houses proved a tremendous success at the Mullingar Park Hotel last week.
The affordable houses include those provided by the council in Mullingar and Kinnegad, and also a large number of properties purchased by the council under the Part V provision of the Local Government Planning and Development Act, 2000.
Approximately 70 houses are available in several locations around the county, including two locations in Mullingar, Kinnegad, and two locations in Moate, Kilbeggan, and Clonmellon. Other affordable houses are becoming available in Delvin, Castlepollard, and Ballymore in the near future. Prices range from €135,000 to €170,000.
The showcase was officially opened by Cllr Detty Cornally, vice chairman of the Westmeath County Council, who urged people to view the houses.
The showcase attracted a large number of interested parties, with approximately 150 applicants registering their interest and discussing the various options available to them with staff of the council and the Affordable Homes Partnership. Prospective purchasers were also advised that viewing of properties would be arranged in the coming weeks.
The houses are priced approximately 20 per cent below that of equivalent houses on the open market. A number of financial institutions were on hand to advise the prospective purchasers on mortgages. Westmeath County Council is willing to provide mortgages if the purchaser is unable to get same from a financial institution and can provide a mortgage of up to 97 per cent of the purchase price of the house, provided the applicant meets all the criteria.
This means that for a typical house at a price of €150,000, the purchaser needs only €4,500 deposit. Repayments on a loan of €150,000 over 25 years amount to €773 approximately per month which includes mortgage protection insurance. To be eligible for a mortgage of this amount, a typical couple would require a net income of €2,280 per month.
A mortgage subsidy may also be available for some purchasers, depending on their level of income.
Westmeath County Council is anxious to point out that prospective applicants do not need to be currently on the affordable housing register, as they will consider new applicants who wish to purchase properties.
Persons interested in purchasing an Affordable House should contact Andrea Geoghegan of the Affordable Housing Section, Westmeath County Council at (044 ) 9332119 or email [email protected]
