I know you are not permitted to rent out a house or apartment bought under the affordable hosuing scheme but does anyone know what the coucnil can do if you decide to rent out the property?
I know you are not permitted to rent out a house or apartment bought under the affordable hosuing scheme but does anyone know what the coucnil can do if you decide to rent out the property?
I asked about what the council could do. Apparently, they can take you to court, remove your share, sell the house for whatever they can and put it against your debts.
They can't remove your share, you own it.
They can extend your clawback by the amount of years that you rent it out. I'd say the councils should get sympathetic to people renting out since noone can sell due to negative equity.
I doubt they can evict you from your own home if there is no problem with mortgage repayments. Extending the clawback period sounds more reasonable and if that is the case then I think I would be happy to take my chances.