Mortgage Protection Policies

Dáil Éireann Debate, Tuesday - 15 December 2015

Tuesday, 15 December 2015

Ceisteanna (587)

Clare Daly

Ceist:

587. Deputy Clare Daly asked the Minister for the Environment, Community and Local Government further to the reply to Parliamentary Question No. 1028 of 3 November 2015 regarding overpriced mortgage protection insurance charged to owners of affordable home units, wherein he states that the matter is currently being examined and a response will be issued, if he will forward the outstanding response, his plans to put this policy out to tender and if there will be more transparency around this process in the future. [45169/15]

Freagraí scríofa

Minister for the Environment, Community and Local Government

I assume the Deputy is referring to her letter to me, dated 4 November 2015, in follow up to her Parliamentary Question No. 1028, dated 3 November 2015. A response to the letter has now issued.

The local authority mortgage protection insurance (MPI) scheme is overseen by the Mortgage Protection Committee, which is a sub-committee of the County and City Management Association (CCMA) and is representative of the CCMA, local authorities, the Housing Finance Agency and my Department.

I understand that a formal procurement process is due to be held in 2016, in accordance with official procurement rules, in order to secure the most appropriate MPI cover at the best value for money for local authority borrowers with effect from 1 January 2017.