Local authority tenants who want to buy their own homes will be able to do so under the new Tenant Purchase Scheme which one Galway TD has described as “a very progressive step”.
The Tenant Purchase Scheme, which was introduced on January 1, allows tenants to buy a home provided they satisfy a range of criteria, such as having a minimum reckonable income of at least €15,000 per annum. The scheme also involves a discount, for any tenant purchasing his/her house, of 40 per cent, 50 per cent, or 60 per cent, depending on the income coming into the house, and is specifically focused on assisting tenants in local authority houses to become homeowners.
Labour Galway West TD Derek Nolan has welcomed the new scheme , saying it will “increase home onwnership across the city”. He is also encouraging tenants with questions relating to the scheme and their eligibility for it to contact his constituency office on 091 - 561006 or email at [email protected].