Dáil Éireann Debate, Tuesday - 14 July 2015
855. Deputy Michael Ring asked the Minister for the Environment, Community and Local Government the increased property value thresholds that will apply in County Mayo following the recent changes to the mortgage-to-rent scheme; and if he will make a statement on the matter. [28550/15]
View answerThe package of commitments on mortgage arrears announced by Government recently includes a number of amendments to the Approved Housing Body Mortgage to Rent Scheme, which will enable more properties to qualify for the scheme and make it more flexible and accessible to borrowers. The principal amendment to the scheme, which took effect from 1 July, is to increase the valuation thresholds applicable which should enable more properties to qualify. The applicable thresholds have been set at two different levels, based on the costs of properties in different areas of the country. In respect of Mayo County Council, which is included as a ‘normal threshold’ area, the revised thresholds that now apply are as follows:
|
Property Type |
Normal Threshold Areas |
|
House |
€250,000 |
|
Apartment |
€190,000 |
