Dáil Éireann Debate, Wednesday - 25 February 2015
169. Deputy Finian McGrath asked the Minister for the Environment, Community and Local Government his views on a matter (details supplied) regarding a bank issue; and if he will make a statement on the matter. [8396/15]
View answerOn foot of the recommendations of the Keane Report on mortgage arrears the Government launched the Approved Housing Body (AHB) Mortgage to Rent scheme , for properties secured with private mortgages, on a pilot basis in February 2012 and extended it nationally in June 2012.
To be eligible for the AHB-mortgage-to-rent scheme a household must have had their mortgage position deemed unsustainable under the Mortgage Arrears Resolution Process, agree to the voluntary surrender of their home, be in negative equity, and be deemed eligible for social housing in accordance with section 20 of the Housing (Miscellaneous Provisions) Act 2009 .
The Government remains committed to helping families remain in their homes and in an effort to increase the numbers delivered under the AHB scheme a new protocol between all parties in the process, including the banking sector, came into operation in June 2014. The protocol includes such measures as the provision of a single independent valuation for the purpose of agreeing the purchase price.
