A SKIBBEREEN charity has bought six homes Cork city and county where families were unable to meet mortgage costs and were at risk of repossession.
The purchases by Carbery Housing Association (CHA), have been funded by a commercial loan from the Housing Finance Agency and the AIB Bank, and topped up with standing loans from the two Councils.
CHA is negotiating additional loan funding and the purchase of a further 17 properties throughout Cork under this programme.
The purchases of a further three properties are held up due to financial charges on their titles from the two Councils.
This is due to the fact they were purchased under the Affordable Homes Programme, where the Council supported private owners in the purchase of their homes.
‘Unless these charges are waived, these residents will not be able to avail of the Mortgages to Rent safety-net and could face repossession” said Jose Ospina, chair of CHA.
The group was set up in 2001, on the initiative of local residents in Baltimore, who felt that holiday home development was pushing house prices out of the reach of local people. Their mission statement is to: ‘Develop and provide housing and associated amenities, for a range of households that were excluded from the housing market, on the basis of partnership with local authorities and community organisations, and aiming at a high level of energy efficiency and sustainability.’
CHA also announced the publication of tenders for its REDWoLF renewable energy project, which it is progressing alongside fellow project partner Cork City Council. The project aims to equip social homes with solar panels, solar batteries, storage heaters and smart meters, reducing reliance on fossil fuels, as a means to help to combat climate change.
‘Eventually, many more existing properties will have to be improved in this way, if Ireland is to meet its CO2 reduction targets,’ said Jose. The REDWoLF project is part funded by a grant from the Interreg North West Europe Programme, SEAI and loan funding from Clann Credo, the ethical finance body.
CHA will be holding its agm on Thursday, 6th of May at 7pm via Zoom.
More details are available on carberyhousing.eu/events.