The Tenant (Incremental) Purchase Scheme (pdf) was introduced in January 2017 and replaced all previous Tenant Purchase Schemes.
You must be the tenant of a Local Authority property available for sale and be in receipt of social housing support for a minimum period of 10 years with a minimum reckonable income (income from all sources) of €12,500.
Under the Scheme, a tenant of Cork County Council pays the authority a discounted price related to his or her income in order to purchase the house. On completion of the sale, the authority places an Incremental Purchase Charge on the house of the proportion of its value equal to the discount.
|If you earn between €12,500 - €20,000||60% Discount||Charged Period 30 years|
|If you earn between €20,001 - €29,999||50% Discount||Charged Period 25 years|
|If you earn €30,000+||40% Discount||Charged Period 20 years|
The Incremental Purchase Charge will reduce to zero over the charged period in annual incremental releases of 2% provided that the purchaser complies with the terms and conditions of the transfer order.