D
Equivalent of renting.
I stand corrected. As per [broken link removed]
Scenario 4 - If the Market Value of the Affordable Home Decreases
So if you sell at a lesser market value then you would make money if you sold for 259k in ten years, you would owe the council 259-170 = 89K, plus say you still owed 130K on your mortgage, then you would make a profit of 40K.
- If John and Mary sell their home and the market value has decreased from €280,000 to €260,000 then the clawback would be based on the lower market value of €260,000 less what they paid €196,000, which is €64,000. So they have to pay back €64,000 to the local authority when they sell in addition to any money owing on their mortgage.
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