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15-03-2019, 08:36   #1
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Join Date: Nov 2017
Posts: 92
Shared Ownership Restructuring

Hi all,i just got a letter from fingal Council in inviting me to meet them to discuss the restructure of my loan(turning the loan into a single loan rather than the rented equity and remaining Annuity loan).

Not sure what benefits it brings me but their advising me to avail of it,was wondering if anybody has gone trough this process or any one got any thoughts/advice?

Thanks all.
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15-03-2019, 09:04   #2
Join Date: Nov 2001
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See how much it will cost you.

It could be a good deal if you end up paying around the same for the single loan as you are currently paying in loan + rent.

The obvious benefit is you'll be working towards owning the entire property rather than a share of it.
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16-03-2019, 09:25   #3
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Can’t speak for Fingal but did similar with Dublin City Council a few years back. It just means that you are paying the mortgage part fully and not the rental part. It worked out cheaper for me as the rental part goes up yearly. DCC said at the time they were trying to move everyone from Shared Ownership to full ownership. They paid the legal fees I think I just needed to get a new family home declaration signed by my own solicitor. Delighted I did it.
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