Re: Government is looking at changing the legislation regarding the clawback.
Hi all, heres a reply i got from John Gormley today.
Legislative provision to facilitate arrangements under which a local authority could agree to its clawback charge ranking in second place behind a new or topped-up mortgage charge, thereby facilitating persons in affordable housing wishing to re-mortgage or re-finance with a private lender, is included in the Housing (Miscellaneous Provisions) Bill 2008 which is currently before the Oireachtas and is targeted for enactment by the Summer recess. A further period will be required, thereafter, to allow for drafting of the necessary regulations and to put in place agreements with the private financial institutions.
He has said it will be through before xmas!!! HTH.