474 Deputy Ciara Conway asked the Minister for the Environment, Community and Local Government if his attention has been drawn to a situation being faced by existing participants in the shared ownership scheme whereby the local authority’s share of the property and the freehold remains and always will remain at purchase price while the owner’s share in the property may have plummeted; his views on mechanisms to ensure that local authorities will incur a drop in the value of its share corresponding with overall drop in the total value of the property; the implications for participants in this scheme who are trying to sell their homes if local authorities do not incur such a drop on their stake in the property; the way this situation will be addressed in the interests of fairness for all parties; and if he will make a statement on the matter. [22242/11]

Summary

474 Deputy Ciara Conway asked the Minister for the Environment, Community and Local Government if his attention has been drawn to a situation being faced by existing participants in the shared ownership scheme whereby the local authority’s share of the property and the freehold remains and always will remain at purchase price while the owner’s share in the property may have plummeted; his views on mechanisms to ensure that local authorities will incur a drop in the value of its share corresponding with overall drop in the total value of the property; the implications for participants in this scheme who are trying to sell their homes if local authorities do not incur such a drop on their stake in the property; the way this situation will be addressed in the interests of fairness for all parties; and if he will make a statement on the matter. [22242/11]

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• Social and Affordable Housing

  xml · EN · 21 July 2011

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