Affordable Housing : Clawback

Discussion in 'Affordable housing and shared ownership' started by Smart, 29 May 2018.

  1. Smart

    Smart Registered User

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    5
    Sorry if already asked - did a search and nothing (I think).

    Anyway - bought on the AH scheme in 2006/7. Its time to move on. Does anyone know/have experience with how the clawback actually works?

    I had assumed that it would only apply should the house be sold for a profit on the price originally paid, but speaking to the council, she was very coy on this and wouldn't give me a straight answer.

    I would be shocked, and delighted, if we did get a higher price than we paid, especially given how much we have invested in the place in the last few years.

    Any input appreciated :)
     
  2. Leo

    Leo Moderator

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    9,557
    Smart likes this.
  3. Steve holland

    Steve holland New Member

    Posts:
    1
    Hi i saw your post from 2018. Im now looking at selling and have tried to get some info from DCC with no luck at all. They tell me there maybe a clawback but after a month asking they dont give me an answer.

    Did you sell and what happened

    Thanks and hope you can help
     
  4. vandriver

    vandriver Frequent Poster

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    1,740
    3 bits of info needed ..
    Purchase price,original valuation,sale price/valuation now.And date of purchase.
     
  5. dshakey

    dshakey Frequent Poster

    Posts:
    65
    I sold mine.

    Quick summary. If affordable housing is under 10 years. Council will get 100% of profit. You will get back capital you paid off mortgage.

    If property is under the 20 years you get back a small precentage of profits. 10% for each year over ten years.

    If did it again i would not do a afford housing. Great you get a property and home but in 10 years when it has out grown your needs, you becoming second time buyer with no equity in ur Property