similar solution is currently proposed by dublin city council
the interest rate is the ECB rate
I checked with DCC and in order to switch to full mortgage the policy has not changed. To take out a full mortgage the borrower must take it out at the initial purchase price.
Is this correct??? What would be the point of the council revaluing in order to give a redemption firgure?? Am I missing something??
Hi Skier, just got a letter as well, last month they lowered the payments and now this... called them today and talked to a guy,asked him are there any changes to deal with this problem? he said everything stays like it was, no chance to get full mortgage with them, cant rent out the house legally(if payments are made, he has no problem with this!?) cant change the parcentage, my is 60-40, being in negative equity; he said thats not their problem(after asking him maybe they can take some part of NE on their hands...) so we are stuck in this for a long time...me thinks...Lads,
I have just received another letter from CCC that my rent increases again, this is terrible.
Has anyone of you also received this letter? Did you hear anything about any changes in the legislation re shared ownership?
Skier
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