Dáil Éireann Debate, Tuesday - 15 October 2013
246. Deputy Bernard J. Durkan asked the Minister for the Environment, Community and Local Government the action taken to date to address the outstanding issues in respect of existing shared ownership loans and mortgages with particular reference to the extent to which the rental part of mortgage repayments has dramatically escalated with resultant hardship; and if he will make a statement on the matter. [43629/13]
View answerThe Government’s 2011 housing policy statement announced the standing down of all affordable housing schemes, including the shared ownership scheme, in the context of a full review of Part V of the Planning and Development Act. That review is available on my Department’s website www.environ.ie and the period for public submissions closed on 27 September 2013.
Earlier in 2013, I asked the Housing & Sustainable Communities Agency to conduct a standalone review of the shared ownership scheme, including identification of the main difficulties and recommendations for mitigating measures. I have received an interim draft of the review from the Agency and I intend to issue a circular letter to local authorities this month with preliminary recommendations arising from the review.
A number of issues have been identified that need further detailed financial analysis in order fully to assess the impact on local authority finances of possible mitigating measures. This additional work is underway and I expect to be in a position to address other aspects of the matter in the coming months.
