statusassign
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I copied this (in italics below) from 'An Irish Town Planner's Blog'.
To date I have heard that there is/was some protracted discussions between the DDA and the Banks resulting in no lenders signing up to offer mortages to those who have been offered apartments in the Docklands.
The date of the article was January 1, 2007 so it is some time ago but I can't seem to come up with info that is more up to date.
I was wondering if anyone has heard anything about this AH equity difference in the Docklands and AH equity elsewhere?
"The launch has been delayed over arguments about how much equity the affordable housing owners should be allowed to retain, should they choose to sell their affordable homes once their mortgages are paid off.
One view being bandied about in the Department of Environment, it is understood, is that after paying off a 20-year mortgage, the owner should keep the entire equity, as with current affordable housing schemes. However, the AHP and the Dublin Docklands Authority would like to see a substantial portion of the equity - perhaps 30-50 per cent - being returned to the Dublin Docklands Authority and "recycled" to provide further affordable housing. "We are not in the business of giving people presents," says O'Connor. "We need to be recycling equity back into the system in order to create further housing."
By the way Starky, if you are reading this, how did the viewing go? Well I hope!
To date I have heard that there is/was some protracted discussions between the DDA and the Banks resulting in no lenders signing up to offer mortages to those who have been offered apartments in the Docklands.
The date of the article was January 1, 2007 so it is some time ago but I can't seem to come up with info that is more up to date.
I was wondering if anyone has heard anything about this AH equity difference in the Docklands and AH equity elsewhere?
"The launch has been delayed over arguments about how much equity the affordable housing owners should be allowed to retain, should they choose to sell their affordable homes once their mortgages are paid off.
One view being bandied about in the Department of Environment, it is understood, is that after paying off a 20-year mortgage, the owner should keep the entire equity, as with current affordable housing schemes. However, the AHP and the Dublin Docklands Authority would like to see a substantial portion of the equity - perhaps 30-50 per cent - being returned to the Dublin Docklands Authority and "recycled" to provide further affordable housing. "We are not in the business of giving people presents," says O'Connor. "We need to be recycling equity back into the system in order to create further housing."
By the way Starky, if you are reading this, how did the viewing go? Well I hope!
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