Terence Flanagan (Dublin North East, Fine Gael)
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Question 449: To ask the Minister for the Environment, Heritage and Local Government his plans to lift the 20 year clawback for affordable housing homeowners who are in negative equity; and if he will make a statement on the matter. [20398/10]

Michael Finneran (Roscommon-South Leitrim, Fianna Fail)
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Houses sold to first time buyers under the various affordable housing schemes at a significant discount from market value contain a clawback provision, in order to prevent short-term profit taking on the resale of the house to the detriment of the objectives of the schemes. There are no plans to abolish the clawback arrangements under the existing affordable housing schemes.

However, where a person is selling an affordable home and the clawback amount payable would reduce the proceeds of resale below the initial price actually paid, the legislation provides for the amount of the clawback payable to be reduced to the extent necessary to avoid that result.