Dáil Éireann Debate, Tuesday - 8 July 2014
195. Deputy Kevin Humphreys asked the Minister for Finance if his Department, agencies under his control or any staff received requests, proposals or submissions on the need for a mortgage indemnity scheme in particular for first-time buyers from any regulated financial institutions here; if so, from whom; and if he will make a statement on the matter. [29629/14]
View answerAs the Deputy will be aware, my Department receives numerous contacts and submissions each year relating to policy matters. These include correspondence from regulated financial service providers on mortgage related issues, including mortgage indemnity insurance, and are dealt with by my officials.
Mortgage Indemnity Insurance is a proposal that is currently being analysed by my Department as part of its remit under action point 51 of the Construction Strategy. Since the analysis is not yet complete, no decision has been made on the next steps to be taken. My Department has recently been contacted by three insurance companies on the subject of mortgage indemnity insurance. The correspondence includes, interalia, descriptions of products offered in other jurisdictions and invitations to presentations on the topic. It would not be appropriate for me to identify these companies due to commercial sensitivities.
