You may be able to get a local authority mortgage. You will get a discount of 60%, 50% or 40% off the purchase price of the house. If you sell the house within this specified period, you will have to pay the outstanding incremental charge on the house to the local authority.
Is it worth buying an ex-council house?
There are two big advantages to buying ex-council property: space and money. As well as getting more space, ex-council properties are significantly cheaper; the Royal Institution of Chartered Surveyors (RICS) reckons ex-local authority property is about 20% cheaper than comparable private properties.
Can I sell my council house after 5 years?
If you sell your home within the first five years of owning it, you will have to pay money back to the council. The amount you have to pay back will depend on the sale price of the property. After five years, you can sell your home without having to pay back any money. …
Are ex-council flats a good investment?
As well as getting more space, ex-council properties are significantly cheaper; the Royal Institution of Chartered Surveyors (RICS) reckons ex-local authority property is about 20% cheaper than comparable private properties. Cheaper prices mean buyers can afford to live in an area otherwise out of their reach.
Is an ex-council house a good investment?
Ex-local authority houses are generally a lot better value for money than normal properties; they can offer more room, and a good location. A lot of ex-council estates are starting to slowly fill up with first-time buyers eager to get on the property ladder any way they can.
What is a respond house?
Respond is Ireland’s leading housing association. We seek to create a positive future for people by alleviating poverty and creating vibrant, socially integrated communities. Respond has provided homes for traditional families, lone-parent families, older persons, the homeless and people with disabilities.
Do ex-council houses sell for less?
