Changes to affordable housing in budget

[Neil_Ireland]

I signed contracts on an AH a few weeks before the budget announcement, but the house won't be finished till March.
How will I be affected?

Thanks,
Neil.

 

[fraggleWHV]

sorry - see full msg below (new to this site)

 

[fraggleWHV]

The first thing I did was ring my solicitor about the Govt Equity Scheme as I am in the process of closing. Solicitor advised from legal standpoint County Councils CANNOT retrospectively apply this new scheme to those who have already purchased or been offered properties under the current scheme (where normal clawback applies and ends after 20 yrs of ownership.) This new scheme sounds like the worst deal ever - what they are effectively doing is making you pay the full market price (and possibly more) over the lifecycle of the mortgage.... Anyway contacted my local council about this just to get some reassurance - they had no idea what I was talking about but no doubt they will be looking into it now!!

Hi.
I just read Richiefan entry and others after that... I am in a similar position - close to finishing the buying process via affordable housing and a bit panicked [ because a) I am not earning over 40k - who does and needs affordable housing?? , b) if i had to payback the (all) clawback for sure that makes my future bleak ]: so far I paid booking fee, snagging nearly finished ... contract is with my solicitor and queries have gone back to council...and there it is stuck at the moment.
My experience so far.. no one wants/or can tell me what is going to happen after 1st January. Not anyone in FCC, nor my solicitor. No one even tells me how long my 'case' might still take and will it spill over into next year. Frustrating
So I will do the same and talk to a local councillor and ask them to bring clearance into the situation. The guys in the council housing section are all awfully nice... but not very speedy in getting things moved. So maybe this will help.
Just to share my experience and if anyone had anymore ideas what to do to share them.
Have a nice long weekend all!