JOHN LYONS TD FINGLAS NEWS KEEPING IN TOUCH A new Tenant Purchase Scheme has been announced. The scheme will begin in January 2016. The Scheme will allow tenants in council houses to buy their home. Tenants will be entitled to a discount of between 40%-60% (depending on income level).
WHAT IS RECKONABLE INCOME?
WHO IS ELIGIBLE TO PURCHASE? A house may be sold only to its tenant (including joint tenants); The tenant must be living in the house for at least one year; The tenant must have a minimum income of at least €15,000 gross per year; A tenant is not entitled to purchase under the new scheme if he or she ■ Bought under a tenant scheme before ■ Has large arrears and has not agreed with the council to pay them off ■ Has or is engaged in anti-social behaviour (this also applies to household members).
HOW IS THE TENANT PURCHASE DISCOUNT CALCULATED? The discount given to a tenant purchaser depends on reckonable tenant income (e.g. joint incomes etc.), as follows: ■ A discount of 60% off the purchase price applies where reckonable tenant income is in the range €15,000 to €20,000; ■ A discount of 50% off the purchase price applies where reckonable tenant income is in the range €20,001 to €29,999; ■ A discount of 40% off the purchase price applies where reckonable income is equal to or greater than €30,000.
The full details of the scheme with examples can be found at – http://labr.ie/tenantpurchasescheme
Reckonable income is income earned from employment (before deduction of income tax, USC, PRSI etc.). Some social welfare payments may be included as reckonable income if they are not the main income (e.g. Social welfare payment to a spouse, civil partner or cohabitant of a tenant in employment). Payments from child benefit, carers allowance/benefit, FIS cannot be included.
HOW DOES THE TENANT PAY FOR THE HOME? The tenant can apply for a loan from the council. Funds from family members may be used towards the price of the house. The tenant does not need a deposit.
WHAT IS AN INCREMENTAL PURCHASE CHARGE? On sale of a house under the scheme, the council will place an incremental purchase charge on the house. This means that if you sell the house before a certain amount of time, you must pay back some of the discount you received to the council. The length of the charge depends on the discount you receive. For example, if you receive a 50% discount, the charge lasts for 25 years. Each year, the charge reduces by 2% and disappears after 25 years.
John Lyons, your local TD.
/JohnLyonsDublinNorthWest
Contact me on 618 3280 or john.lyons@oir.ie
@JohnLyonsTD
SAINT FERGAL’S GREEN FLAG
Major Upgrade for Gaelscoil Uí Earcháin and Scoil Chiaráin Announced
Saint Fergal’s BNS has been awarded a Green Flag as a result of their hard work to make the school more environmentally friendly. The Green Flag was awarded for recycling. I was delighted to be there to help them raise the flag and cut the cake on their special day. It takes a lot of hard work to get a Green Flag. Well done to all the students, teachers, and parents who made that happen.
Minister for Education Jan O’Sullivan TD announced the details of a new six-year school building programme. An investment of €2.8bn in our school buildings. In total 310 schools will benefit from major building projects over the next 6 years. By 2021 we will have put an end to the use of prefabs in schools. 154 primary schools, 30 special schools and 126 second-level schools will benefit from new buildings or major extensions and renovations – each one of these projects is worth at least €1m. I am glad to hear that two of our local schools, Gaelscoil Uí Earcháin and Scoil Chiaráin, will benefit from this major investment. Across every county in Ireland, schools now have our commitment that we will deliver the safe, warm, modern learning environments that our children deserve.
FINGLAS CREDIT UNION LAUNCHES NEW LOAN SCHEME TO COMBAT MONEYLENDERS The pilot scheme is open to social welfare recipients who collect their payment in cash at a Post Office and have access to the Household Budgeting Scheme as the loan repayment method. The loan value will range from €100 to a maximum of €2,000. The interest rate will not be more than 12%. This pilot scheme will help take some families out of the arms of high cost moneylenders. I’m glad that Finglas Credit Union is taking part in the scheme. As this is a pilot scheme, I will continue to work so that this is rolled out on a permanent basis. For more information on the “It Makes Sense” loan please contact Finglas Credit Union.
Cllr Duncan Smith Fingal
Cllr Áine Clancy DCC
Cllr Andrew Montague DCC
Cllr Brendan Carr DCC
087 9862686 duncansmithfingal@gmail.com
087 7635406 aine.clancy1@gmail.com
087 908 0409 andrewmontague@eircom.net
087 207 5921 brendan.carr@dublincity.ie
John Lyons TD @JohnLyonsTD /JohnLyonsDublinNorthWest
Dáil Éireann, Dublin 2 Tel: 01 618 3280 Email: john.lyons@oireachtas.ie Web: www.johnlyons.ie
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