D
dalkener
Guest
Heya,
I have owned an affordable house for the last 3 years but due to circumstances may now have to move country. As the conditions say I'm not allowed to rent this property I have no other option but to sell.
I've read through some of the threads here and am looking for some confirmation.
Original market value was 360,000 and I took a mortgage of 140,000.
Approx 60% clawback
As prices have undoubtably dropped, I've seen similar apartments in complex at 280,000.
Will the council be looking for 60% clawback of 280,000 (184,000) and thus leave me 44,000 up the creek????
Other threads seem to think that the council will just clawback anything above the mortgage I took out, fine by me if I can break even!
Any thoughts greatly appreciated
I have owned an affordable house for the last 3 years but due to circumstances may now have to move country. As the conditions say I'm not allowed to rent this property I have no other option but to sell.
I've read through some of the threads here and am looking for some confirmation.
Original market value was 360,000 and I took a mortgage of 140,000.
Approx 60% clawback
As prices have undoubtably dropped, I've seen similar apartments in complex at 280,000.
Will the council be looking for 60% clawback of 280,000 (184,000) and thus leave me 44,000 up the creek????
Other threads seem to think that the council will just clawback anything above the mortgage I took out, fine by me if I can break even!
Any thoughts greatly appreciated