Who will get the 22 new cost-rental homes in Waterford

Twenty-two new homes in the Ballinaneesagh area will be the first in County Waterford developed under the cost-rental scheme.

€3.3 million from the Affordable Housing Fund has been granted to Waterford by Minister for Housing and Local Authorities, Darragh O’Brien T.D.

The houses in Ballinaneesagh are already under construction and should be occupied by families by the end of this year.

The overall aim of the Housing for All plan set out by the Government, is to deliver 18,000 cost-rental homes across the country by 2030.

Outlining the difference between this cost-rental scheme and social housing, local Fianna Fáil councillor, Jason Murphy, said the cost-rental scheme will bridge the gap for those who are “falling through the cracks” and may be above the income threshold to apply for social housing yet can’t get a mortgage from a bank for various reasons.

Anyone availing of the cost-rental scheme can rent the same home indefinitely, which provides security for those who have been denied a mortgage by banks.

Speaking to the Waterford News & Star, Cllr. Murphy explained who the newest housing scheme in Waterford is aimed at.

“What cost rental is, I suppose, is to catch that cohort of people that are above the income limits for social housing but for whatever reason they can’t access a mortgage, or they can’t access to affordable housing schemes, so what it does is it gives them a long-term rental contract, at an affordable price,” he said.

In some cases people get caught in the middle between not having access to a mortgage but being above the social housing income levels because their income might be too low or they may have a bad credit history. Cllr. Murphy said the reasons can be varied.

“So, it gives them security and it gives them

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