Cork County Council to seek repayment break for shared ownership participants

Hundreds of people who signed up to shared ownerships schemes could be in for a windfall as Cork County Council is to ask the Government to relax the repayment systems.

The likely measure may come after county councillors unanimously backed a motion from Cllr Seamus McGrath to tackle what he termed the “deeply inequitable scheme”.

Under the scheme introduced some years ago, the council retained an equity share in the property and purchasers payed a rent to the council as well.