I propose to take Questions Nos. 62 and 71 together.
The Government’s strategy to assist those in mortgage difficulty is built around the following measures, as recommended in the 2011 Interdepartmental Mortgage Arrears Working Group (Keane Group), in four main distinct areas:
- Lenders providing sustainable and durable resolution options to their borrower;
- A social housing response sponsored by local authorities;
- Comprehensive advice to borrowers; and
- Personal Insolvency Reform.
In the context of the overall strategy, the continued payment of mortgage interest supplement, the purpose of which was to provide short-term support to meet mortgage interest repayments, does little to assist recipients in improving the long term difficulty in addressing their mortgage problem. Discontinuation of entitlement to the mortgage interest supplement scheme came into effect for all new applicants from 1 January 2014. Customers availing of this support prior to 1st January 2014 have been able to retain entitlement to the scheme up to 1st January 2018. There are currently approximately 5,880 mortgage interest supplement recipients for which the Government has provided €11.9 million for in 2015. Statistics on the reasons customers are refused mortgage interest supplement are not available.
I have no plans to revise the conditionality of the scheme at this time which could only be considered in a budgetary context. I am satisfied that the most appropriate way in which customers experiencing mortgage difficulties can be supported is through on-going engagement with their lender.