Dáil Éireann Debate, Thursday - 12 February 2015
248. Deputy Michael McGrath asked the Minister for the Environment, Community and Local Government the number of shared ownership arrangements which are currently in place with local authorities; the total value of loans outstanding for this category of home ownership; and if he will make a statement on the matter. [6523/15]
View answer249. Deputy Michael McGrath asked the Minister for the Environment, Community and Local Government the number of shared ownership arrangements with local authorities which are in arrears; if a process is in place for dealing with such arrears cases; and if he will make a statement on the matter. [6524/15]
View answerI propose to take Questions Nos. 248 and 249 together.
My Department publishes a wide range of housing statistics, including the number and value of local authority mortgages, with a breakdown of those in arrears. However, the data currently available does not provide a specific breakdown in respect of Shared Ownership Mortgages. A data collection process is currently under way, referred to further below, which will provide information in that regard. The statistics on local authority mortgage arrears generally are available on my Department’s website at: http://www.environ.ie/en/Publications/StatisticsandRegularPublications/HousingStatistics/FileDownLoad,15295,en.xls by clicking “Mortgage Data/Arrears in Local Authorities” under the Housing Loans contents.
In 2013, the Housing Agency was asked to conduct a standalone review of the shared ownership scheme, including identification of the main difficulties and recommendations for mitigating measures. An initial draft of the review was received from the Agency and a number of issues were identified that needed further detailed financial analysis in order to fully assess the impact of possible mitigating measures. This substantial data collection project involving my Department, the Local Government Management Agency and the local authorities themselves is under way.
Pending full conclusion of this review, my Department issued a circular letter to local authorities setting out some of the options and interim actions that might be explored to alleviate the difficulties of those in shared ownership distress, such as allowing use of the Mortgage Arrears Resolution Process and room rental for Shared Ownership mortgage holders. It is accepted that these proposals are not a complete solution to the issues that arise for such mortgage holders but are intended as an interim measure pending the outcome of the review.
My Department issued revised guidelines to local authorities for dealing with mortgage arrears within the local authority sector in June 2014. Dealing with Mortgage Arrears – A Guide for Local Authorities is available on my Department’s website at: http://www.environ.ie/en/Publications/DevelopmentandHousing/Housing/FileDownLoad,30943,en.pdf.
