There has been a "positive" response to Monaghan County Council's affordable housing scheme which launched yesterday.
A total of 10 new 2 and 3 - bedroom semi and detached homes are available to purchase by people in this first-of-a-kind scheme in Monaghan.
A portal opened at 10am yesterday for applicants. A spokesperson for the council would not say how many applications were received by close of business today but told Northern Sound the portal will remain open for three weeks until Thursday May 1st.
The homes available to buy in the new Station View housing estate in Kilnacloy, comprise of two two-bedroom end of terrace properties set at a minimum sale price of €215,000, two three-bedroom mid-terrace houses with a minimum sale price of €224,000 and six three-bedroom semis with a minimum price of just under €225,000.
The purchasers will enter an affordable dwelling purchase agreement with Monaghan County Council. Under this agreement the Council will take a percentage equity share in the dwelling equal to the difference between the market value of the dwelling and the price paid by the purchaser, expressed as a percentage of the market value of the dwelling.
The Council may not seek realisation of its affordable dwelling equity for a 40-year period.
However, the purchaser may choose to redeem or buy out the affordable dwelling equity at any time by means of one or a series of payments to the Council. The properties are open to people who are first time buyers or qualify under the 'Fresh Start Principle'. Applications will be assessed in line with Monaghan County Council's Scheme of Priority.
