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Buying your home
Tenants may also be eligible for the Incremental Purchase Scheme.
Tenant Purchase Scheme
If you have been a tenant of Westmeath County Council for at least one year, then you may apply to the Council to buy your house, either outright or through shared ownership, under either the 1995 Tenant Purchase Scheme or the 2011 Tenant Purchase Scheme.
1995 Tenant Purchase Scheme
This 1995 Scheme applies to tenants who hold a continuous tenancy of at least 1 year standing and wish to purchase their home until June 2012.
The Scheme provides for a maximum discount of 30% on market price, based on 3% discount for each year of tenancy up to 10 years and a further discount of €3,810.
2011 Tenant Purchase Scheme
This 2011 Scheme applies only to tenants of 10 years standing or longer who wish to purchase their home and will be open for application only until 31st December 2011.
This Scheme provides for a maximum discount of 45% on market price, based on 3% discount for each year of tenancy up to 15 years.
Sales will have to be finalised by 31st December 2012 as the Scheme will expire on that date.
In general, all local authority houses are included, with the exception of houses provided for and occupied by elderly people and flats. Westmeath County Council can exclude houses for reasons of good estate management, because of their structural condition or if they have proposals to carry out remedial works to them.
Apartments or flats
Financing your tenant purchase
Apartments or flats
Apartments or flats are not included in the tenant purchase scheme. The price of the house will be its market value as determined by Westmeath County Council in its existing state of repair and condition, minus discounts. The structural condition of the house will be taken into account and any increase in the market value due to improvements you made to the house will be disregarded in calculating the price.
If you disagree with Westmeath County Council's valuation of your house, you can contest it by getting a valuation certificate from a qualified valuer. If there is a significant difference between the original valuation and the valuation submitted by you, then Westmeath County Council will refer it to the Valuation Office.
Financing your tenant purchase
You can either get a mortgage with a bank or building society or you can apply to Westmeath County Council for a Tenant Purchase Loan.
Rules
You must have been a tenant of Westmeath County Council for at least one year.
Stamp Duty rules have changed recently. The former general exemption from Stamp Duty in relation to instruments giving effect to the conveyance, transfer or lease of a house, building or land by a housing authority, which would include tenant purchase sales, has been removed with effect from 1 April, 2011. The maximum Stamp Duty payable from that date in these cases is €100.
Selling the house
If you want to sell the house within 20 years of the date you bought on or before you have acquired full ownership, you must get the consent of the local authority. Consent to Sale forms are available from the Housing Section, Westmeath County Council.
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