Government is looking at changing the legislation regarding AH clawback.

Re: Government is looking at changing the legislation regarding the clawback.

Does anyone have any idea if this legislation might go through before the dail break for the summer? It seems like its going on forever :)
 
Re: Government is looking at changing the legislation regarding the clawback.

It passed second stage this week, but at the moment there's no indication as to when it will be taken in committee stage.
 
Re: Government is looking at changing the legislation regarding the clawback.

This is a related question:

I have an apartment under the shared-ownership scheme with Dublin City Council and I cannot afford to buy out 100% of the apt.
The apt was valued at 230k 4years ago but is now only worth about half that. Does anybody know if the DCC will waive the loss if I was able to sell? or would I still owe the council the balances of the loan? as it was not clear from earler postings whether the council will accept the loss.
Can anybody helf on this please.
Thanks very much
 
Re: Government is looking at changing the legislation regarding the clawback.

I think the new Housing Act, 2009 will have a provision to allow affordable house owners to apply to release the clawback without having to sell the propery.
 
Re: Government is looking at changing the legislation regarding the clawback.

Yes, I think that only applies to people who purchased their property at a discount from the council. Shared ownership is a sepearate thing
 
Nesta said:
personally i would consolidate existing loans and decorate my apartment if i was able to remortgage ...... on the other hand does anyone really have confidence that an establishment would risk lending monies to a person living in an affordable unit , ok some peolple circumstances have changed since they moved in first but generally i reckon we are in the high risky category and wont be touched with a barge pole, so all this is waiting is gonna be in vain .Does anyone know Will the T's and C's of the existing affordable housing agreements change ie. wether you would be entitled to rent out your unit legally
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Now this is something i am really interested in knowing, does anyone have any information on whether we can legally rent out the unit??
 
At the moment you cannot legally rent out an affordable unit with DCC...... on the other hand you are entitled to rent a room .
 
Nesta said:
At the moment you cannot legally rent out an affordable unit with DCC...... on the other hand you are entitled to rent a room .
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But if you bought it on shared ownership you're technically required to get DCC's written permission to rent out a room. Though I'm not sure how they would know about it.
 
the reason i say this is because i know at least three people who do this and dont try to hide ie
 
you def can rent out but you do need permission - i know someone who does and makes € on their rental to pay back the tax part
 
any more news manu??? we want to consolodate loans too

bought for €114k 7years ago but only 6 mortgage as first was caretakers agreememnt
 
Afraid not Dozy :-( Still waiting.. Its at the Committee Stage now but the Dail are finished until next week on easter hols so might get more of an idea after that when it might come up..fingers crossed it'll be done before the summer hols!!
 
manunited said:
Afraid not Dozy :-( Still waiting.. Its at the Committee Stage now but the Dail are finished until next week on easter hols so might get more of an idea after that when it might come up..fingers crossed it'll be done before the summer hols!!
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What's the actual bit of the act that deals with the releasing of the councils share? I've been reading the act and I'm having savage difficulty making sense of it.
 
I was told by someone in the Housing Dept that it will be included at the amendment stage of the bill which will be at the end i assume.. that maybe why you dont see anything about it now..so they said anyway.
 
ye Im aware you can rent a room no problem from Fingal Co. Council but I think you should be able to rent out the whole apartment after say a period of 7 years or something, seems a little unreasonable that you can't rent it out ever! I understand they want to avoid people buying to let but if you could rent it out only after a period of 7 years that would stop people taking advantage of the system, any thoughts?
 
manunited said:
I was told by someone in the Housing Dept that it will be included at the amendment stage of the bill which will be at the end i assume..
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The next stage, committee stage, is where the bulk of government amendments are introduced. But they don't publish the amendments until a couple days before the committee is scheduled to debate them. And it's not scheduled for the rest of April at least.
 
The completed housing bill '09

Hi,

Reference to Affordable Housing

I cant post URLs, but google housing bill 2009
Open the link Housing (miscellaneous Provisions) Act 2009
- Page 4 part 5. Might be of some interest?
 
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