An artist's impression of the Farranshock development.

Applications open for cost rental homes in Westmeath

Applications are now open for the second phase of new cost rental homes at Farranshock Park in Mullingar.

Applicants can apply on the Tuath website for the new homes, consisting of six two-bedroom and 19 three-bedroom houses. Rents are set at €1,235 for a 3-bedroom house and €1,025 for a two-bed, representing approximately thirty percent less than the current market rates.

Built by Glenveagh Homes, the Farranshock development, will consist of 214 energy efficient, A-rated houses upon completion. The 46 cost rental homes and are being delivered by Tuath in partnership with Glenveagh, Westmeath County Council, the Department of Housing, Local Government and Heritage, the Housing Agency and the Housing Finance Agency (HFA). The allocation of homes will be conducted through a lottery system, and successful applicants can expect to move into their homes in May.

Funded under the Cost Rental Equity Loan (CREL) scheme, it marks the first-ever delivery of cost rental homes in County Westmeath under this scheme. Tuath says that it "presents an exciting opportunity for individuals and families, with a net household income below €59,000 a year, to secure long term safe, secure and affordable housing". The first phase of 21 homes at Farranshock Park were allocated in December.

Under cost-rental, tenants benefit from rents based on the actual cost of building, managing, and maintaining the properties, rather than being determined by market rates. This approach grants long-term security of tenure, providing reassurance against rent fluctuations, fostering stability and a sense of community.

Tuath is Ireland's leading provider of cost rental housing with the delivery of over 400 cost rental homes to date in counties Dublin, Kildare and Louth. The association currently has over 3,300 homes on site nationwide, including 800 cost rental homes in the pipeline which will see future delivery in counties Cork, Dublin and Galway.

For more information on cost rental, including eligibility criteria and how to apply, please visit the Tuath website here: