M
Hi clongriffin
I rang DCC recently and asked about shared ownership. Is that the same as 50/50.
The impression i got was that if you went with shared ownership and bought an affordable for 250k you would rent half from DCC and have a mortgage for 125k then after a year you could go to a normal lender like PTSB and buy DCC out of there half for the original price.
But the guy i spoke to told me when you buy out DCC after a year you buy the apt at curent market value. so if the price of apt went up by 200k thats what extra you would be paying.
so in that case if original price was 250k and prices went up by 200k you would need approval for 450k.
It sounds a bit extreme to me if i got my info right.
betty
Thanks for that clongriffin.
that is exactly what DCC told me, but i wasn;t sure i understood it properly. The last property we applied for was €245k that was the affordable price, actual price was around 420k. If we went 50/50 there is no way we could afford to buy out ourselves one year on.
thanks for the info, ur very good to take the time.
Betty
Hi all,
I don't have any savings to talk about but I am putting away €500 a month to the Cred union. €300 of which is paying off a loan and €200 into savings. My wages are around mid 30s maybe higher by the end of Feb.
I'm going to apply to DCC, Fingal and Dun county councils.
I ask for any advice or information etc etc.
Would be most appreciated.
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