I refer to the reply to Question No. 64 of 23 March 2011 which sets out the position where an affordable house purchaser is selling their home and the clawback amount payable would reduce the proceeds of resale below the initial price.
In relation to affordable house purchasers wishing to remortgage or top-up an existing mortgage, provision was made in the Housing (Miscellaneous Provisions) Act 2009 to allow purchasers under the new Affordable Dwelling Purchase Arrangements to do this without triggering the clawback. However, the Act does not provide this facility for purchasers under then existing affordable housing or shared ownership arrangements. I have requested my Department to arrange to have the provisions necessary to address this matter included in the first appropriate legislative vehicle that becomes available.