Buying out council - Affordable Housing

ye thats exactly what i got.and i have done all that.and they have been to my apartment,but when your valuater gives you your valuation that is were the problem is.there 2 totally different valuations.so thats were your stuck ,
 
kenzo said:
ye thats exactly what i got.and i have done all that.and they have been to my apartment,but when your valuater gives you your valuation that is were the problem is.there 2 totally different valuations.so thats were your stuck ,
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why not get more then one valuation done, it may cost a few quid to do but might be worth while to get 2 independant valuations. & if both come back lower then the Councils valaution you will have more of a leg to stand on.
 
Hi Affordable27,

That response sounds promising. Did you mention that you already have your mortgage with a bank and not through DCC?
 
Rubypenny said:
why not get more then one valuation done, it may cost a few quid to do but might be worth while to get 2 independant valuations. & if both come back lower then the Councils valaution you will have more of a leg to stand on.
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Hi Ruby,

I done exactly what you have suggested and they did not pay any attention to this.

I had a face to face meeting with DCC yesterday for 2 hours to discuss our options and situation. To be honest, they were great and we came back with a number of possible solutions. I'm now waiting for them to come back to me with definite answers and figures.
 
nathan who did you contact in there for setting up a meeting with was it over the afforable housing ..
 
rubypenny as you can see they have all done this allready and still got them no were.so theres no point in me to get another 2 valuations .
 
I set up a meeting with affordable and loan accounts as we dicussed a few options. As we can't sell our apartment and we can't rent because we're shared ownership we discussed:

- changing to a full mortgage and which would then be entitled to rent the property so we can move out. We were told many times that this wasn't an option, but, it was on the cards yesterday. They are calculating the figures for this option.
- If we can't do the above they are looking into revaluing the property for a realistic figure so we can remortgage with a bank, this would then entitle us to rent out the property because it won't sell and we need to move.
 
Hi Roe - I just said to them I got my property through Affordable Housing/EBS and she has not come back to me saying there is a problem, as yet. I wonder have they even checked my file!
 
nathan did you bring up about the valuation are they going to be realistic about this do you think.
 
Hi Affordable27, wow, it seems that this may work out for you - fingers crossed anyway! Maybe I'll just do the same and see what they come back with. Can you let me know how it goes for you anyway?

Nathan, that's great news for you, I hope it works out.
 
Thanks Roe - Won't get too excited yet, will post here as I get updates.

Lets hope the valuation is not off the wall
 
Thanks Roe.

@ kenzo - I did bring the valuation into the equation and they understand our frustration as a result of these valuations. They basically said that many people were taking advantage of the system and sending in significantly low valuations in oder to get a lower clawback. I can understand to a degree why they have moved the goal posts in this respect, however, there is an element of them needing to be realistic at the same time.

Hopefully it'll be sorted soon. Seriously, it's all I think about in work, at home, in my sleep... Constantly checking out potential homes for once this is sorted out.
 
hopefully it works out for you nathan with the situation that your in.best of luck.
 
Yes... I should be receiving a new valuation in the post over the next few days. If the valuations is too high to remortgage, we are changing to 99.1% mortgage with the council (they told us numerous times that this wasn't possible) and renting the property while we move out. We've tried to sell but it has been impossible to get a viewing let alone an offer.
 
Hi Affordabl27,

Would you mind PM'ing me with your contact in the council please? so that I can go ahead and send in my valuation etc?

Thanks and that' great news!
 
Nathan .i have been 99.1% with the council since last summer.and there was no problem at all when i done this.so i only pay rent on 1%,but im still shared ownership and AH.I dont think this makes any difference at all.your basically still stuck there.
 
Hi Affordable27, Just wondering how you are getting on with process of remortgaging and paying off the clawback?

Thanks.
 
hello

I am getting more and more confused! has anyone who managed to buy out the council and is not with shared ownership (but simply bought and affordable house and got mortgage through a bank) pm me with the details of who they spoke to in the Council?
I contacted Dublin City Council a few times and got my solicitor to contact them also and they say this is impossible to do.
They recently chaged the rules so I can remortgage without triggering the clawback (which is the loop hole people used before but it was unfair to those stuck with not the best mortgage so it is right that they changed it...). If anyone can pm me with a bit of information I would really appreciate it. Thank you
 
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