Buying out council - Affordable Housing

Affordable27 said:
Hi Guys,

I'm in the same boat - Got Mortgage through EBS - I had written out an email to send to the Legal guys in DCC , but after reading your mail, I might hold off and speak to a solicitor.

Helen L - Did you buy with DCC/Mortgage or did you Mortgage with a bank?

Many thanks
Click to expand...

Hi, originally i was on shared ownership with DCC. and when i bought them out i moved my mortgage to ESB. The good thing about ESB is that they actually new alot about it and helped me through alot of my querys. As did my solicitor. I found DCC were not too helpful with any questions i had and if i asked someone something i got a diff answer from someone else. I found that Ronan was the best person in DCC to get any information i asked correct. My solicitor and bank were then on hand to help with anything else. There was alot of twoing and frowing...
 
Hi Helenl123,

Can you recommend a solicitor with experience in the area of affordable housing and specifically of buying the council out?

Many thanks.
 
I can recommend my solicitor, she's based in raheny and has done this for us so i know she's 100% experienced in it, let me know if you want her details and ill PM them to you.

THanks
Helen
 
Hi Helen,

That would be great if you could send those details on.

Much appreciated,
Roe.
 
Hi Roe,

I sent you a pm with her details., phone number, email, fax and company website. Hope this helps.

Let me know when you get it ok.

Thanks
Helen
 
Hello

As many of you I am trying to own my apartment 100% and I called DCC today to ask for a redemption figure for the claw back as - I was told that I can only own it fully after the 20 years and cannot 'buy out' the council.
I was told the clawback figure only comes in if I sell, and that the clawback does not kick in even if I remortgage.

It seems some of you manage to buy out the council - was it recently? was the mortgage through a private bank or with the council?

I was given a blank no by the law and accounts dept in DCC.

Any information about this much appreciated

thank you
 
What about it if you were going to rent it out? I remember being told that if you rented out your place the clawback would kick in. Probably just a case of misinformation on the phone but it was definitely mentioned.
 
Newpad said:
Hello

As many of you I am trying to own my apartment 100% and I called DCC today to ask for a redemption figure for the claw back as - I was told that I can only own it fully after the 20 years and cannot 'buy out' the council.
I was told the clawback figure only comes in if I sell, and that the clawback does not kick in even if I remortgage.

It seems some of you manage to buy out the council - was it recently? was the mortgage through a private bank or with the council?

I was given a blank no by the law and accounts dept in DCC.

Any information about this much appreciated

thank you
Click to expand...

Hi NewPad, that is bonkers... I myself have done this, i bought the council out in October 2007, So 1 year 9 months ago. I got my mortgage with EBS in clontarf to do this. I have an email i can attach to this to show you of details. private info hidden (surname).

-----Original Message-----
From: Colin Sharkey [mailto:[email protected]]
Sent: 10 October 2007 11:06
To: Helen
Subject: RE: Good News
Hi Helen,
Tom Doyle sent figures yesterday and the outstanding redemption is €258,866.51.
Regards
Colin Sharkey
-----Original Message-----
From: Helen
Sent: 10 October 2007 10:50
To: [email protected]
Subject: FW: Good News
Hi Colin,
I dont think the below figures sent to my solicitor are correct, i receive the figures about a month ago and they were lower and i have since paid a months mortgage to yourselves since this also.
Thanks
helen
 
Thanks Helenl123

this is exactly what I was looking for - proof that someone else has done it - when I mentioned I knew it was being done I was treated as mad!!!

I'll give it another try and let you know how I get on!
 
It's great to get all this info - Strengthy in numbers.
Newpad/Helenl123 - did you both get your mortgage off DCC. I got a Mortgage with EBD - does this make a difference to buying out the Council?
 
Hello Affordable27

My mortgage is with EBS. DCC insists that I can remortgage without triggering the claw back, which is not what they said when I bought. According to EBS I actually don't need to remortgage, apparently some of their clients just paid whatever the clawback was at the time. This is getting more and more confusing so I have asked my solicitor to check this out....
It might be a good idea for everyone to get onto their TDs or councillors...
 
I dont understand why the council say you are unable to buy them out unless you sell your property.
can i ask you who you've been talking to in DCC. I remember when i was doing what i was doing i had been told one thing by one person, only to find out later it was wrong and to go about it another way with another person.

I had my mortgage with DCC. I bought the property at 220,000k from them with my mortgage in October 06.
In October 07 I moved my mortgage to EBS in Clontarf and paid the council the full funds - 220,000 and 38,000 back - 258,000 i paid the council to buy them out right. It is simular to a re-mortgage basically. I didnt just pay the council the claw back, i paid them the full amount. However the only reason i did this was due to the fact i had my full mortgage at the time with DCC.

If i was with EBS previous and i owed just the claw back to DCC, i would only have had to pay the claw back.

It is 100% possible to buy DCC out of the apt without having to sell the property.

If they are suggesting to you this has never and would never be done before, please contact me and i will give you a PM with my details so that you can request that DCC check their files on me and see that I did this.
 
Wasn't this the reason why people started a campaign - that when they went to remortgage they HAD to pay clawback. It was in the papers at one stage and it was one of the things that triggered the legislative change. Now that they stand to lose they've changed the rules. I don't think they'd have a leg to stand on if they were taken to court over it. Trouble is noone will want to be the testcase of course.

Helen123, fair play to you for sharing your details, seems like Newpad will need all the help they can get. Good luck newpad!
 
A further thought. If you run a search through the archive for the group who were campaigning to be allowed to remortgage without paying the clawback you might get more info to strengthen your case because these people were told they'd HAVE to pay clawback.
 
Hi Guys,

I was on this thread a few weeks back looking for information on how to go about buying the council out of the interest in my property and received some helpful information. Since then I have been in touch with Ronan Rogers, Colin Sharkey and Michael O'Connell (the chief clerk) from DCC and up until my last conversation with them yesterday evening have been told that although I purchased a property under the Part V affordable housing programme, like so many others, I can not buy them out as my mortgage is with a bank.

They have informed me that if I had organised a mortgage with them i.e. through the 50:50 scheme, then I could remortgage and buy them out of the interest in my property, as the remortgage would be viewed by DCC as a sale, therefore enabling me to buy them out of the clawback.

To me that really sounds a little too convenient for DCC. I would be of the view that if by being on the 50:50 scheme automatically means that when you remortgage, DCC no longer have a claim on your property, then surely if I and others like me who have a mortgage with a bank, want to remortgage; we should also have the option of buying DCC out and subsequently owning our properties outright.

I intend to seek legal advice on this matter, as the system seems really flawed.

Helen123, I know that you previously said that you had originally organised your mortgage with DCC, can I ask if it was through the 50:50 scheme or did they simply give you a mortgage for the full price of your property (with the initial reduction taken into account of course)? If they gave you a mortgage for the full price of your property, then I really think the rest of us would have a good shot at arguing our case.

Thanks again for your help Helen and to everybody else who has given advice on this matter.

Roe.
 
hi moi75 i too am in the same position in my house just over 7 years and have calculated approx. 90k to buy them out, all i want to do is remortgage but at the moment can't unless pay clawback back. Can't find out anywhere when the new legislation in place whereby we can remortgage without paying the clawback
 
So people that can buy the council out for little or nothing are being told they can't trigger the clawback if they remortgage and people that owe thousands are told they can't remortgage without triggering the clawback... DCC are a joke!
 
Roe said:
Hi Guys,

I was on this thread a few weeks back looking for information on how to go about buying the council out of the interest in my property and received some helpful information. Since then I have been in touch with Ronan Rogers, Colin Sharkey and Michael O'Connell (the chief clerk) from DCC and up until my last conversation with them yesterday evening have been told that although I purchased a property under the Part V affordable housing programme, like so many others, I can not buy them out as my mortgage is with a bank.

They have informed me that if I had organised a mortgage with them i.e. through the 50:50 scheme, then I could remortgage and buy them out of the interest in my property, as the remortgage would be viewed by DCC as a sale, therefore enabling me to buy them out of the clawback.

To me that really sounds a little too convenient for DCC. I would be of the view that if by being on the 50:50 scheme automatically means that when you remortgage, DCC no longer have a claim on your property, then surely if I and others like me who have a mortgage with a bank, want to remortgage; we should also have the option of buying DCC out and subsequently owning our properties outright.

I intend to seek legal advice on this matter, as the system seems really flawed.

Helen123, I know that you previously said that you had originally organised your mortgage with DCC, can I ask if it was through the 50:50 scheme or did they simply give you a mortgage for the full price of your property (with the initial reduction taken into account of course)? If they gave you a mortgage for the full price of your property, then I really think the rest of us would have a good shot at arguing our case.

Thanks again for your help Helen and to everybody else who has given advice on this matter.

Roe.
Click to expand...

Hi,

I actually originally went through the 50/50 scheme with DCC and the mortgage was originally with them. So i suppose i can only vouch for someone who would be going through that exact same process. Originally my property was worth 220k (affordable price), and i got a loan from DCC for 110k (50%). I don't think this is what you probably wanted to hear? I really did not think that there would be a difference in if u could buy them out re: shared ownership or Affordable housing. The guys i worked with along with buyin out were colin sharkey and ronan rogers. They were the only guys in DCC i felt i got correct info out of.

I am very confused as to why there is a difference in the buy out if you go SS or AH. I would have thought AH would have been easier. Reason being when i went SS (50/50) it was alot of paper work to remove DCC from the deeds of the property as they were on 50% of them. It was able to be done, but it cost alot more at the time. If you were AH it would be alot quicker as this would not be the case.

Did Colin or Roger tell you why you could not buy them out when SS could? did he state exactly what the difference was between the two, cos if i was you, i'd request that from him. I dont see how if you have the place as AH, and you want to stay in it for the rest of your life (alot will, and you dont want to sell). how they can say you will never fully be out of AH until you sell? There has to be something wrong here?
 
Hi all,

I havent read all of the posts on here so forgive me if this has been sugested previously but has anyone contacted the office of the Minister for Housing or the AH Partnership and asked them to clarify regarding the AH legislation, and what it actually says?? As Ive been led to believe, its this AH legislation which is laid down by the Dept of Environment that forms the basis / guidelines by which each and every council must operate their AH schemes within. May be worth a shot to get in touch with them. The following is directly from Dept of Environments website (Housing Section)
"The Department of the Environment, Heritage and Local Government is the Department primarily responsible for the formulation and implementation of policy and for the preparation of legislation in relation to housing."
May be worthwhile to check out the link below for more info:
http://www.environ.ie/en/DevelopmentandHousing/Housing/HomeOwnership/AffordableHousing/
Best of luck with it all and buying out DCC's interest.
 
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