Dáil Éireann Debate, Tuesday - 26 March 2013
337. Deputy Clare Daly asked the Minister for Social Protection the options available to a person who needs mortgage interest supplement, but has been unable to honour a twelve month interest only payment with the bank on the grounds of inability to pay. [15158/13]
View answerMortgage interest supplement provides short-term income support to eligible people who are unable to meet their mortgage interest repayments in respect of a house which is their sole place of residence. There are approximately 14,000 mortgage interest supplement recipients for which the Government has provided €42 million for in 2013. To ensure that those who are in mortgage difficulty engage with their lender under the Mortgage Arrears Resolution Process (MARP) and avail of its forbearance arrangements, from June 2012 the mortgage interest supplement is not payable until applicants have agreed with their lender and complied with an alternative payment arrangement for a cumulative period of not less than 12 months. This process acknowledges that it is in the interest of both the lender and the borrower to address financial difficulties as speedily and effectively as circumstances allow.
A person unable to meet their commitments under the MARP process is advised to contact their lender to review their repayment arrangement.
