Good news from DCC

D

Dinkey

Guest
I called DCC at lunchtime regarding the new legislation that would enable all existing AF owners to buy the council out fully without incurring clawback charges and she said that it's true that this legislation is being pushed through and they hope to see something during the summer come into force. She was able to quote me from the legislation and pointed me to the specific page of the legislation that deals with this so here it is

http://www.environ.ie/en/DevelopmentandHousing/Housing/RHLegislation/FileDownLoad,17932,en.pdf

She knew what she was talking about but sorry, didn't get her name. Her phone number is 2225020 though.
 
my reading of the leg is that it allows you to refinance your current mortgage but not to increase the amount of your mortgage, is that your understanding also?
makes sense to as it would not mess with the issue of the clawback percentage or the councils interest but would allow you to get a favourable interest rate elsewhere if available?
 
No cos if you read page 56 it states you can refinance for more if you like. I posed that question to the girl in the DCC and she said you can remortgage and ask for more to consolidate your debts the same as any private home owner would. Happy Days!
 
i contacted dcc today about price drops and was told in no uncertain terms that there wouldn't be one. i think they are trying to push shared ownership on people
 
i assume this legislation will affect all AH's then, not dependant on county coucil. so good news for all AHs owners not just DCC
 
Hi redser12,

What development are you planning on buying in? The reason I ask is because I was onto them on Monday and was told they'll know by the end of the week and all along I've been given the impression that a price reduction will apply to my development, not once was I told that price reductions will apply to certain developments and not all!!!!

PM me if you want.
Thanks
 
hgf said:
i assume this legislation will affect all AH's then, not dependant on county coucil. so good news for all AHs owners not just DCC
Click to expand...


Yes I got the news from DCC but it is good news for all AF owners just to clarify.
 
If you signed up for a 25 year mortgage originally and then after 3 years are permitted to remortgage, does this mean you would only be allowed to refinance for 22 years or could you get an extension of the mortgage period ?
 
You are taking out a new mortgage with a new Provider, so you can go for whatever period the new morgage provider agrees with you, could be 20,25, 30 years
 
does anyone know if you can remortgage with another mortgage provider (bering in mind if the legislation goes through) when locked into a fixed interest rate with cc for 1st 5 years???
 
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