Latest news with #HelptoBuyScheme
Irish Independent
2 days ago
- Business
- Irish Independent
Fears that buyers from ‘surrounding counties' will come to Wexford for new affordable housing scheme
Located in Ard Uisce in Wexford town and the Old Forge Road in Enniscorthy, the homes start from €250,000 for three-bed semi-detached houses and €270,00 for four-bed semi-detached houses, with buyers able to get support through the Government's Help to Buy Scheme. However, at the June meeting of WCC Sinn Féin councillor Tom Forde raised concerns about outside buyers coming to Wexford to purchase these properties. 'People who are newly resident in Wexford are entitled to apply for those and I'm wondering if we can set some form of limit on it, whether it be two years or three years, to prevent people coming in from surrounding counties,' he said. 'It would be great if we could prioritise those who are living long-term in the county. Is there a minimum time period where someone has to be resident in Wexford?' After chief executive Eddie Taaffe advised that the properties would be sold on a 'first come, first served' basis, director of services Carolyne Godkin said such a system would prevent people originally from the county from returning home, adding that the biggest challenge for buyers was 'being mortgage ready' prior to purchase.
Irish Independent
29-05-2025
- Business
- Irish Independent
Council launches affordable homes in two Wexford estates with prices starting from €250,000
In association with Wexford Low Energy Homes, the local authority has announced the launch of homes available under the Local Authority Affordable Purchase Scheme at Ard Uisce on Whiterock Hill in Wexford town and at Old Forge Road in Enniscorthy. All ultra energy-efficient a-rated homes, both three and four bedroomed units will be available and prices are set to start from €250,000. While Wexford County Council has taken a long time to get an affordable housing scheme off the ground in Gorey, they have long been sought in other areas too. A government-backed initiative, it aims to help first-time buyers to purchase newly built homes at a reduced price, bringing the gap between what aspiring homeowners can afford to pay and the cost of purchasing a house. Up to 24 affordable purchase properties will be made available for sale to eligible private purchasers below market price. Prices net of the Affordable Dwelling Contribution start from €250,000 for three-bed semi-detached houses and €270,00 for four-bed semi-detached houses, with buyers able to get support through the Government's Help to Buy Scheme. Speaking at the launch, Housing Minister James Browne said: 'The local authority affordable purchase scheme is further evidence of the government's commitment to helping people into home ownership and into security of tenure. 'Increased supply of new homes and the Affordable Housing Fund Programme, together with Government and local authority supports, will help those aspiring to own their own home realise this goal. Owning your first home is a hugely significant step, and I would urge first time buyers in Wexford to apply for this scheme. 'This Government wants to support first-time buyers and other eligible homebuyers in purchasing new homes, and the key to this is supply. The Programme for Government aims to ramp up supply of new homes and deliver another 300,000 new homes between 2025 and 2030 – on top of over 133,000 new homes delivered between 2020 and 2024. "My department is examining actions to help boost delivery in the immediate-term, pending completion of a new national housing plan, and what we are seeing at Ard Uisce and Old Forge Road is proof of that.' Applications can be made for the scheme via the online portal and the local authority is set to host a information event at Whites Hotel in Wexford on June 4 at 7 p.m. and at The Riverside Park Hotel in Enniscorthy on June 5. Those interested will have the opportunity to speak to housing officials and get an overview of the application process, as well as meet with approved lending partners to discuss mortgage options. An online application webinar will also take place on June 11, while an in-person clinic will take place at Wexford Library on June 14 and Enniscorthy Library on June 21. To register to attend events or to receive affordable housing programme updates, visit the affordable housing section of the Wexford County Council website and fill out an 'expression of interest' form. Alternatively, contact affordablehousing@
Daily Mail
05-05-2025
- Business
- Daily Mail
My Help to Buy neighbour is illegally renting out his flat - how can I put a stop to it?
My neighbour and I both used Help to Buy equity loans to purchase our flats. The loans helped us get on the property ladder. A couple of years ago, my neighbour moved out to live with his girlfriend and now makes money by renting his flat out to tenants. This is against the Help to Buy rules. I live near the HS2 route so the tenants are usually construction workers. There are currently five people living in the two-bed flat. They all have cars which is causing issues in the communal car park. I've contacted Homes England, which administers Help to Buy, its fraud team and the council about the problem. No one seems to be bothered. Is there anyone else I can notify? If he had sought permission, then fine - but if not, I think it's crazy that he's making a huge profit on a Government scheme that's meant to help people. Problematic: A This is Money reader's neighbour is renting out his Help to Buy flat Jane Denton, of This is Money, replies: The Help to Buy equity loan scheme ran from 2013 until 2023. It is no longer possible to apply for a Help to Buy equity loan to purchase a new home in England, where you live. First-time buyers could typically use the Help to Buy equity loan scheme to buy a new-build property up to the value of £600,000, with a maximum equity loan of £120,000, or 20 per cent. In Greater London, the maximum equity loan was £240,000, or 40 per cent. The loans were interest-free for the first five years. According to Government data, 387,195 properties were purchased using a Help to Buy equity loan between April 2013 and May 2023. Some claim the scheme pushed property prices in England up. When your neighbour purchased the flat using the Help to Buy loan scheme, he would have agreed to adhere to various terms and conditions. By subletting the flat in the manner you describe, he is in breach of those terms. There are limited circumstances where Help to Buy purchasers can temporarily move out and rent out their home. Among others, these include needing to temporarily move due to ill-health or caring for a family member elsewhere. In the most serious cases, illegally renting out such a property can lead to a criminal prosecution. However, you have hit a brick wall in your attempts to get anyone to take the matter seriously. I've spoken to two legal experts for their thoughts. Consequences: Olivia Egdell-Page says Homes England can take steps to pursue anyone renting out a Help to Buy flat illegally Olivia Egdell-Page, a partner and head of property at Joseph A. Jones & Co, says: The Help to Buy Scheme is abundantly clear that the property purchased must be the borrower's only residence. Help to Buy was not intended to offer assistance to landlords or those with a portfolio of properties, and the scheme rules state that applicants who make fraudulent claims for Help to Buy assistance may be liable to criminal prosecution. In that event, the Government will require immediate repayment of the Help to Buy equity loan assistance. While I appreciate your neighbour may not have intended to let the property at the outset, their use of the property now would certainly seem to contravene the rules. In exceptional circumstances, renting the home out to a tenant is allowed. Help to Buy gives examples of having to live away temporarily for work, or to care for a relative. The borrower would have to apply for permission from Help to Buy, and get approval from the relevant mortgage lender and insurance provider. The scheme rules do permit people to take in a lodger without asking for permission, as long as the purchaser lives in the home with them, and do not give the lodger a formal tenancy which would give them an interest in the property. This is clearly not the case here, as your neighbour is no longer living in the flat. I am surprised that Homes England, which administers the Help to Buy scheme, has not taken action, as its rules are clear that it can take steps to trace the borrower and pursue this further with them. It can also potentially make a report to His Majesty's Revenue and Customs to check that the neighbour is paying tax on his rental income. Homes England may be in contact with your neighbour already without your knowledge, as it would not necessarily be possible to share this information with you. Separately, it is possible that the council may become involved if it has been informed that the property is being let to as many people as you say. This constitutes the use of the property as a house in multiple occupation, or HMO, which brings it within the remit of additional regulations and safeguards put in place for the benefit tenants to protect against rogue landlords. Depending on the location of the property, planning permission might have been required to use the property in this way. I would suggest you speak to the housing department of the local council to find out if this is the case. If the council is made aware that the property is being used unlawfully as an HMO, it can make a landlord take action to correct any problems and may prosecute the landlord where required. While your neighbour's abuse of the Help to Buy scheme is frustrating and unfair, it seems the nuisance caused by the use of the property as an HMO is causing more of an issue for you on a day-to-day basis. I'd suggest you pursue this with the council in the first instance. Manjinder Kaur Atwal, director of housing law at Duncan Lewis Solicitors, says: The Help to Buy equity loan scheme was designed to support home ownership, not investment returns. Renting out a property purchased under the scheme without permission is a breach of the terms. If this neighbour has not sought and been granted explicit permission, what they are doing could be a clear misuse of public funds and mortgage fraud. This carries serious legal and financial consequences. Get it in writing: Manjinder Kaur Atwal suggests a formal letter to Homes England may help get the issue addressed If the homeowner is found to have unlawfully sublet, they could be required to either move back in, sell the property, or repay the equity loan within six months. In extreme cases, subletting can lead to criminal prosecution and unlawful profit orders, requiring the landlord to hand over any rental income gained. You have already taken several steps by reporting the suspected illegal subletting to Help to Buy and your local council. Unfortunately, it can sometimes feel as though little immediate action is taken. However, there are still further routes you can pursue. First, follow up with Homes England in writing. Request confirmation that your report has been logged and ask for an update. A formal, written trail can sometimes prompt investigation that is more active. Contact the managing agent or freeholder of the building. Most leases for Help to Buy flats specifically prohibit unauthorised subletting. The freeholder may have independent powers to take enforcement action for breach of lease, separate from Help to Buy. Raise the issue with Trading Standards. While they mostly handle consumer matters, illegal subletting tied to financial gain could fall under unfair trading practices in some circumstances. Check if the property is registered as an HMO. If five unrelated people are living there, it may require an HMO licence. The council's housing enforcement team may investigate if no licence exists. You could also complain to the Financial Conduct Authority. If the lender or Help to Buy administrator fails to investigate a clear breach of loan terms, you can escalate a complaint to the FCA. Although it can feel frustrating when authorities appear slow to act, persistence and formal documentation help. At the very least, a clear record of concerns makes it harder for the situation to be ignored if future issues arise. Finally, it's worth bearing in mind that there may be an innocent explanation, such as the neighbour having sought permission to sublet. But if that isn't the case, the breaches you describe could have serious consequences for them.
