Homes 2 Buy Deposit Scheme

What is it?

This is a new approach to buying property, Homes 2 Buy Deposit Scheme allows First Time Buyers live in their new Rinnucinni home while saving their mortgage deposit.

How does it work?

1) Apartments
           

A non refundable deposit of €5,000.00 is paid and a monthly payment of €550.00 is paid for a period of 15.2 years. After this period, the apartment is fully paid for. The monthly sum of €550.00 is fixed for 5 years, and after this it will be the average charged by the two main lending banks at that time. The purchasr can switch to any bank or repay their mortgage at any time without penalty or exit charges of any kind.


2) Houses.

A non refundable deposit of €6,000.00*  is paid and a monthly payment of €780.00*  is paid for a period of approx 30 years*. After this period, the house is fully paid for. The monthly sum of €780.00* is fixed for 5 years, and after this it will be the average charged by the two main lending banks at that time.    (*Varies depending on the house type).

What’s the catch?

No catch, participation requires a deposit of €6,000* (which is also deducted from the purchase price of the  property) and approval takes 48 hours.

How do I qualify?

The application process is simple and straightforward, just bring us a completed Irish Credit Bureau Report (available from www.icb.ie), your latest three months pay slips, three months of bank statements and proof of permanent employment – we’ll do the rest.

It’s that simple?

Absolutely, Homes/ Apartments 2 Buy Deposit Scheme is an innovative solution to property purchasing that has been proved by the banking. Participation helps build a strong credit rating and we will work with you to secure a favourable mortgage on your behalf.

EXAMPLES

Rinnucinni two Bedroom Apartment: Apartment price €75,000 Deposit €5,000 Monthly payments  Last Payment:    €550 15.2 Yrs.	Rinnucinni three-bedroom House: House price  €160,000 Deposit  €6,00.00 Monthly Payments Last Payment  €780.00 30 Yrs.
Rinnucinni four bedroomed House House Price €  210,000 Deposit €  11,000. Monthly Payments  Last Payment €   950      30 Yrs	Rinnucinni five bedroomed House House Price   € 250,000 Deposit  € 15,000 MonthlyPaymens € 1100 Last Payment    31.2 Yrs.