Under the scheme, a local authority will buy a house for an eligible person, who must then take out a mortgage through the authority, paying a minimum 40 per cent, maximum 75 per cent, of the cost; the remaining share will be rented by the buyer from the local authority. The maximum cost of the house is decided by each local authority - but there is flexibility in the scheme, so check if you think they might be able to help you.

You get your loan from the local authority in whose area the house you want to buy is located.

To be eligible to apply, a household must have a maximum single income of £20,000 in the preceding tax year; in the case of a two-income household, two and a half times the principal income plus once the subsidiary income must add up to less than £50,000 in the preceding tax year. You must also prove ability to repay.

Buyers need a minimum deposit of £1,000, and £1,500 for legal costs; no stamp duty is payable, and buyers qualify for the £3,000 first-time buyers' grant for a new house. You can claim tax relief on the mortgage portion.

Buyers can - and are encouraged - to purchase the local authority's share of the house over a 25-year-period. (Dublin Corporation is giving people who bought houses under the scheme in 1993 the opportunity to transfer to a full mortgage now.)

After 25 years, you must buy out the local authority's share.