Cork South Central Fianna Fáil T.D. Michael McGrath has said local authority tenants can avail of a discount of up to 45% if purchasing their home from the Council in 2011, under improvements which have been introduced to the Tenant Purchase Scheme.
The normal maximum discount is 30% (based on 10 year’s tenancy) but this is being increased to 45% (based on 15 year’s tenancy) for tenants who purchase their dwellings in 2011, according to Deputy McGrath.
‘The improved tenant purchase scheme presents an outstanding opportunity for long term local authority tenants to buy their own home. Until now, there was no further increase in the discount for the tenant once they were 10 years in the Council property. They can now gain a discount for a further 5 years, giving a total possible discount off the market price of 45%.
‘This change is designed to make the tenant purchase scheme more attractive for long term tenants and provides a one-off opportunity for many people to own their own home. I would encourage anyone interested in the scheme to contact their local authority for further details early in January,’ stated Deputy McGrath.Follow TheCork.ie (The Online Newspaper for Cork, Ireland) on social media