Vol. 488 No. 3
20 Mr. Creed asked the Minister for the Environment and Local Government if he will introduce a tenant purchase scheme for local authority tenants who are involved in the shared ownership scheme; and if he will make a statement on the matter. [5927/98]
The shared ownership system facilitates access to full home ownership in a number of stages to those who cannot afford full ownership in one step in the traditional way. Initially, equity in the house is shared between the shared owner and the local authority. Persons buying under shared ownership acquire, subject to the terms of the scheme, the benefits and responsibilities of home onwership from the outset and are not tenants of the local authority.
The remaining equity in the house may be bought from the local authority in stages over a period of 25 years. The question of a tenant purchase scheme does not arise in the circumstances.
