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Home > Our Services > Housing > Promoting home ownership > Incremental purchase scheme

Incremental Purchase Scheme

It is a scheme that allows social housing tenants to purchase a dwelling from the Council. Initially the purchaser will only have to purchase part of the equity in the property. This scheme will replace previous Tenant Purchase Schemes.

Who is eligible?

Social housing applicants/tenants with a minimum earned income of €15,000 per annum are eligible. Applicants must be in employment.

Applicants with a poor credit history, a record of anti-social behaviour or who have already purchased a property from the Council are not eligible for the scheme.

How does it work?

The applicant purchases equity in the house with a mortgage. The table below shows the equity applicants can purchase based on their income.

Income Band 

Purchased Equity 

Amount of purchased equity based on purchase price of €180,000

Period Council charge remains in place

€15,000  -€19,999

 40%

 €72,000

 30 years

€20,000 -€29,000

 50%

 €90,000

 25 years

€30,000+

 60%

 €108,000

 20 years

The Council's charge on the property for the unpurchased equity is reduced by 2% per annum for the period set out in the table above. The reduction does not take effect until after 5 years, at which stage 10% reduction is applicable.

What is the purchase price?

The price is set by the Council.

Can the property be sold by the purchaser?

Yes, an amount of money based on the Council's charge on the property must be paid. An example of this is set out below:

Market Value (year 10): 

 €260,000

Initial equity stake of purchaser:

 40%

Increase in equity stake of purchaser over 10 years (2% x 10 years):

 20%

Total equity of purchaser at year 10:

 60%

Remaining local authority charge

 40%

Amount to be paid to the Council (€260,000 x 40%)

€104,000

Contact Us

By email : housing@westmeathcoco.ie

By telephone : 044-9332119

Or visit us at either of our housing counters;