You are entitled to resell your home, if you bought it under the Affordable Housing scheme.
However, if you do so you will have to repay a percentage of its new resale value to Dublin City Council. This is known as a ‘clawback’.
You are also entitled to remortgage your home. Find out how to remortgage your home below.
Calculate the Clawback You Have to Pay
The amount of clawback depends on how much time has passed since you first bought the property.
If you decide to sell within 10 years of the original purchase date
% clawback = % discount you received from us when buying the house.
For example, if you got a 20% discount from us when buying the house, you must now pay us 20% of the new sales price.
Read the examples below to see how this works.
If you decide to sell 10 to 20 years after the original purchase date
% clawback = % discount you received from us when buying the house, less 1/10th of this discount per year.
For example, suppose you got a 20% discount from us when buying your home. Imagine you want to resell the house after 11 years.
This means you must give us 18% of its new sales value.
In year 11 clawback = 18%, because 20% - 2% = 18% (the 2% comes from 1/10th of 20%)
Read the examples below to see how this works.
Examples of Clawback Calculations
A. Clawback on a house you bought for €160,000 and are now reselling for €300,000
- €200,000 = The true market value of the property when you bought it.
- €160,000 = The price you paid for the property under the Affordable Housing Scheme.
- 20% = The discount you got from the Affordable Housing Scheme.
| 1-10 |
€300,000 |
20% |
€60,000 |
| 11 |
€300,000 |
18% |
€54,000 |
| 12 |
€300,000 |
16% |
€48,000 |
| 13 |
€300,000 |
14% |
€42,000 |
| 14 |
€300,000 |
12% |
€36,000 |
| 15 |
€300,000 |
10% |
€30,000 |
| 16 |
€300,000 |
8% |
€24,000 |
| 17 |
€300,000 |
6% |
€18,000 |
| 18 |
€300,000 |
4% |
€12,000 |
| 19 |
€300,000 |
2% |
€6,000 |
| 20 |
€300,000 |
0% |
€0 |
B. Clawback on a house you bought for €245,000 and are now reselling for €400,000
- €350,000 = The true market value of the property when you bought it.
- €245,000 = The price you paid for the property under the Affordable Housing Scheme.
- 30% = The discount you got from the Affordable Housing Scheme.
| 1-10 |
€400,000 |
30% |
€120,000 |
| 11 |
€400,000 |
27% |
€108,000 |
| 12 |
€400,000 |
24% |
€96,000 |
| 13 |
€400,000 |
21% |
€84,000 |
| 14 |
€400,000 |
18% |
€72,000 |
| 15 |
€400,000 |
15% |
€60,000 |
| 16 |
€400,000 |
12% |
€48,000 |
| 17 |
€400,000 |
9% |
€36,000 |
| 18 |
€400,000 |
6% |
€24,000 |
| 19 |
€400,000 |
3% |
€12,000 |
| 20 |
€400,000 |
0% |
€0 |
Remortgage Your Home
You can remortgage your property, but once you decide to re-mortgage the clawback or discount you received at the time of purchase will have to be paid to Dublin City Council
Remortgaging Under the Shared Ownership Scheme
If you buy your home under the Shared Ownership Scheme, you will not be able to get a remortgage until the property is registered in your own name with the Land Registry. This could take a number of years.
Contact us at the address below to find out more about this.