Applications to open for 26 new affordable homes in Navan's Baker Hall

First homes in Meath under Project Tosaigh shared equity scheme are to be released

The Land Development Agency (LDA) has announced the upcoming opening of the application process for 26 newly-built homes in Navan. The 26 make up phase one of a total allocation of 50 homes, all of which are being made available for eligible purchasers at affordable prices. The homes were developed by Glenveagh Homes in partnership with the LDA and Meath County Council.

The houses are targeted at first-time buyers who need assistance bridging the gap between their own available funds (including the Help to Buy scheme), the mortgage that they can obtain and the cost of the new home.

The latest homes to be delivered by the LDA are located at Baker Hall off Academy Street and include three two-bed and 23 three-bed A-rated homes, all of which have been completed and are ready to be occupied.

Under the Affordable Purchase Scheme, jointly run by the LDA and Meath County Council, eligible buyers will be able to purchase and own their own new home by availing of this shared equity scheme.

Standard full market prices for the first 26 homes start at €305,000 and rise to €367,250 with purchasers able to avail of equity contributions of up to €75,000, depending on the price of the property and the applicant’s own financial circumstances.

Under the Affordable Purchase Scheme, Meath County Council will retain an equity share and successful applicants have the option of buying out this share over time if they so wish. Equity shares are calculated on an individual basis and are linked to an applicant’s income, their savings and their mortgage capacity.

The homes will be made available in two phases, starting with the first 26 later this month. Phase two will comprise two-, three- and four-bed homes.

An online application portal for the 26 phase one homes will open at 12 noon on Wednesday, 27th September and close at 12 noon on Thursday, 19th October. A separate application process for phase two homes will be launched at a later stage.

Potential applicants are being advised to familiarise themselves with the eligibility criteria and to compile the requisite documents to complete their applications subject to them meeting the qualifying criteria.

The homes in Navan have been secured through the LDA’s Project Tosaigh initiative. The initiative is overseen by the LDA in addition to its direct housing delivery channel, which involves the construction of new affordable homes on State-owned land. This is the first time Project Tosaigh homes have been made available in Co Meath.

The A-rated, open plan homes are part of a wider development and are built to an exceptionally high standard.

John Coleman, chief executive of the LDA, said: “It is great to announce the delivery of more homes under the Project Tosaigh initiative and we are delighted to be working in partnership with Meath County Council and Glenveagh. These new homes are superbly located in Navan and are built to an exceptionally high standard. They are being made available to eligible candidates who want to own their home, but need help bridging the gap between the amount they can afford and full market prices. I would strongly urge all would-be homeowners to take the time to determine if they are eligible under the scheme and to submit their application if they meet the qualifying criteria.

This is a fantastic opportunity that can make homeownership a reality for many households, who might otherwise be locked out of the market.”

Fiona Lawless, the acting chief executive of Meath County Council, said: “We are excited to bring these houses to the market at prices that eligible households can afford. Navan is a fantastic place to live and work and it is great that more people will now have the option of buying and owning their home in the area. The financial supports being made available are extensive and will make a difference to those who do not qualify for social housing, but who have not been able to afford new house prices without a level of equity support. We urge all would-be first-time buyers to examine the criteria and to get in touch with us if they need more information or wish to apply.”