Carbery Housing Association, based in Skibbereen, West Cork, has purchased 6 more homes in Cork City and County, where families are unable to meet mortgage costs and are at risk of repossession. The purchases have been funded by a commercial loan from the Housing Finance Agency and the AIB Bank, as topped up with standing loans (CALF) 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 3 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 Carbery Housing Association.
Today 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 Ospina, CHA’s Chair. 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.