Affordable Housing / Shared Ownership

Jonnie_Onion

That's funny, I was told everyone would be contacted. Not surprised to be honest.

Oh well, best of luck everyone!

BC

I spoke to DCC the other day. They said the draw is happening tonight (Thursday). The 'winners' will be notified by registered post tomorrow and everyone else will be notified by a letter over the next couple of weeks.

Good luck!!!

Jonnie_Onion

Glad to hear it.

Haven't ticked every box myself, so I reckon I only have about a 3% chance of getting a place, but its still exciting to be in the draw!

msscarlet

Hi again,

I rang DCC today. They have held the draw for Timber Mills, Fitzwilliam Quay and Southgate. They told me I wasn't successful for these draws. On the list 2 years next month. Feeling very despondent right now!!! Anybody get a good reply from DCC.

gamer

i know some1 got shared ownership,aptmnt ,after 3 years,they went, for full ownship,100percent, mortgage, its a start, my advice if you are single,go for shared ownership, you need to get a survey on property you want ,to get application accepted,as your income rises, you can go 4 full mortgage after 2 years.You pay 50percent rent /mortgage 4 two years,to prove you are a reliable customer,they will let you get 100percent loan/buyout rent, unless your income is very low, DOCKLANDS IS A PREMIUM UPMARKET AREA, look around theres apartments round 200k, eg echlin st dublin 8, near guinness,depot.DOCKLANDS is not designed for the 1st time buyer, unless you are very rich,the council may have allocated some lowcost housing there,i dont know ,to be honest.

Jonnie_Onion

gamer wrote:

i know some1 got shared ownership,aptmnt ,after 3 years,they went, for full ownship,100percent, mortgage, its a start, my advice if you are single,go for shared ownership, you need to get a survey on property you want ,to get application accepted,as your income rises, you can go 4 full mortgage after 2 years.You pay 50percent rent /mortgage 4 two years,to prove you are a reliable customer,they will let you get 100percent loan/buyout rent, unless your income is very low, DOCKLANDS IS A PREMIUM UPMARKET AREA, look around theres apartments round 200k, eg echlin st dublin 8, near guinness,depot.DOCKLANDS is not designed for the 1st time buyer, unless you are very rich,the council may have allocated some lowcost housing there,i dont know ,to be honest.

Last time I checked the cap on the loan you could get made S/Ownership by itself (without affordable housing) unworkable for nearly all properties in Dublin.

preacher505

just a word of caution, I entered into a shared ownership agreement with sligo county council in 1996, the house's value was 24,000 punts at the time, I now owe 39,000 euro to them after 19 years, after many issues with them I asked for a copy of the deeds and was told they were with my solicitor, this went on for years but after checking the folio with land registry it turns out they own the house freehold which means I actually own nothing, when I requested a copy of my original leasehold contract I was told it can not be found, the reason given for it remaining freehold in the councils name was that because of the escalation of the councils equity most shared ownerships were short lived, my house remains in sligo county councils property folio which can be used to secure financial services, legally property that is freehold can be used for this but it should be stated in the original leasehold agreement that the property will remain freehold in their name, way too complicated, but in order to check if this is written in to the agreement I need a copy of the original document which they "can't find" the deeds for the house also seem to be missing, this means that potentially the council are in breach of contract but once again the contract is missing, i'd be interested to hear from anyone in the shared ownership scheme who is having similar issues, if you are unsure of the freehold/leasehold status of your house contact the land registry at https://www.landdirect.ie/ and check using the interactive map to find your property, it will list a folio number and the title freehold/leasehold, if it comes up as freehold order a view folio option, it's 5 euro and in my case it's been worth the money, i'd be interested to see if this is the case with all county councils or just sligo

surrender monkey

preacher505 wrote: »

just a word of caution, I entered into a shared ownership agreement with sligo county council in 1996, the house's value was 24,000 punts at the time, I now owe 39,000 euro to them after 19 years, after many issues with them I asked for a copy of the deeds and was told they were with my solicitor, this went on for years but after checking the folio with land registry it turns out they own the house freehold which means I actually own nothing, when I requested a copy of my original leasehold contract I was told it can not be found, the reason given for it remaining freehold in the councils name was that because of the escalation of the councils equity most shared ownerships were short lived, my house remains in sligo county councils property folio which can be used to secure financial services, legally property that is freehold can be used for this but it should be stated in the original leasehold agreement that the property will remain freehold in their name, way too complicated, but in order to check if this is written in to the agreement I need a copy of the original document which they "can't find" the deeds for the house also seem to be missing, this means that potentially the council are in breach of contract but once again the contract is missing, i'd be interested to hear from anyone in the shared ownership scheme who is having similar issues, if you are unsure of the freehold/leasehold status of your house contact the land registry at https://www.landdirect.ie/ and check using the interactive map to find your property, it will list a folio number and the title freehold/leasehold, if it comes up as freehold order a view folio option, it's 5 euro and in my case it's been worth the money, i'd be interested to see if this is the case with all county councils or just sligo

You seem to be very confused about the shared ownership system 😞

What you have described is exactly how shared ownership should work. If you look at the councils freehold folio there should be a burden on part 3 of the folio with a 99 year lease in favour of you registered there. A leasehold folio number will be given and if you view that folio that will be registered to you, your mortgage with the council will be registered there. If you want a copy of the dicuments you can request them by paying a 40 Euro fee for the instrument from land reg.

If you've had the property for 19 years then I'm assuming that your mortgage is finished. The money you still owe is the value of the councils equity in the property. Relax everything sounds completely fine.

myshirt

^^^^^

Exactly.

Op, have you been living there all this time not knowing that everything was 100% A-OK?

I'm surprised you weren't turfed out to be honest with all the hassle you seem to be causing.

preacher505

everything is not ok and I have been paying or they would have turfed me out, there is no 99 year lease registered with me anywhere, both house and land are freehold in the county councils name, the trouble i'm causing is nothing to do with whether I own a leasehold interest and is not mentioned anywhere in my previous post as the root of the problem is not the deeds or the land reigistry deeds, they are required however by my solicitor in order for him to be able to take action on my behalf, to quote a solicitor working for the council "our experience of the shared ownership scheme at the time was that due to escalation of the value of the councils equity which would ultimately have to be bought out and for various other reasons, they were very shortlived with applicants seeking to refinance or sell within very short periods of time, for this reason we adopted a practice of postponing the registration of the leasehold agreement until it became clear what was going to happen" it is in my case very beneficial for the council that the original leasehold agreement remains unfound along with other documents, the amount outstanding is because all the while I was paying, the councils equity was rising, it has been 19 years and apparently it still does not seem to have become clear to them what is happening

preacher505

I meant to add that as the original agreement was based on a leasehold (hence the title leasehold agreement) they are in fact in breach of contract by it remaining freehold in the council's favour, the council continues to tell me I own the property and that the deeds are with my solicitor, I have had no bills or paperwork regarding local property tax despite me being here all along, I have contacted the revenue commissioners about this and it seems the tax is being paid but not by me, the location of the deeds was last noted as the county council solicitors safe, my solicitor has never even seen the deeds, please read the following

In the case of Local Authority shared ownership schemes,

The Minister for Finance (Deputy Michael Noonan): announced in the Dail on 5th March 2013 that he had been advised by the Revenue Commissioners that residential properties purchased under the various local authority shared ownership schemes will be subject to LPT, and in these cases, the individual(s) who purchased the residential property from the local authority will be liable to pay the tax.
He expanded on this reply by saying ” This is on the basis that under these schemes, the purchaser acquires a leasehold interest in the property for a period that exceeds 20 years. Such a purchaser is in the same position as a property owner who purchases a residential property with a mortgage from a financial institution. Accordingly, there is no reason why such an individual should not be liable for payment of the LPT on the property. ”

the local housing authority is not liable to pay the LPT and aren't doing so as a favour to me