thanks anonymous thats very helpful, i rang my solicitor about it today and she will be getting back to me tomorrow, i hope. she also asked me to contact the council. The number unfortunatley rang out.
If what your saying is true anonymous i think we will just break even, ie; give the council back the 80k and we get our mortgage back = 200k
Is this correct.
Well at least we break even.
My girlfriend and i bought an affordable home only 4 months ago. Now my girlfriend is expecting :-O and we need a bigger place.
Surely the baby won't take up that much space!! Do you have more than one bedroom in the house?, and why didn't you factor in the possibility that you would be having children before you made the decision to purchase this particular property.
Given that you receive the same amount whether you sell for 201K or 310K why don't you sell at the bottom of that range?
Not if they buy a new build.You may break even but remember you are no longer first time buyers. You now have to consider:
1. you will have to pay stamp duty on any further properties
There must surely be a clause preventing this. The owner can't be allowed to effectively write off the entire clawback without any input from council, plus it would be open to abuse - what if I sold cheaply to my brother or a friend, then he sells on for close to market price and we share the difference (after) taxes?
Not if they buy a new build.
Just a follow-up from JohnJay's query, anyone who sold their affordable home as we are desperate to move out of our affordable housing for many personal reasons. Hoping someone would be able to help. Thanks a million.
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