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Fingal Co Co Long Term Lease and RAS Options

dialemma · 2015-01-20 13:01:53

Hi there, Any advice, I'm a landlord out of necessity, we've rented out our duplex in Dublin and now rent a house with a garden further out of Dublin. We would like to buy in the coming year but are currently still in negative equity on our duplex property. We do have a deposit saved. We are considering the Fingal Co Co…

20-01-2015 1:01pm

#1

dialemma

Registered Users, Registered Users 2 Posts: 49 ✭

Join Date: June 2012

Posts: 32

Hi there,

Any advice, I'm a landlord out of necessity, we've rented out our duplex in Dublin and now rent a house with a garden further out of Dublin. We would like to buy in the coming year but are currently still in negative equity on our duplex property. We do have a deposit saved. We are considering the Fingal Co Co Long Term Lease Scheme whereby we would lease out property to Fingal Co Co for a minimum of 10 years, the payment would cover our mortgage and our tax liability. Does anyone have any experience of this scheme or any advise? The biggest disadvantage I can see is that we would then not be in a position to sell the property inside of the ten year unless we could find a buyer who wished to take over the Council lease agreement. Aside from that does anyone have any other insights?

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