Tom Fleming
Question:82. Deputy Tom Fleming asked the Minister for Finance his views on correspondence (details supplied) regarding the current distressed mortgage crisis; and if he will make a statement on the matter. [33508/15]
View answerWednesday, 30 September 2015
Questions (82)
Written answers
I am pleased to inform the Deputy that the latest Central Bank quarter two release on mortgage arrears shows that Government policy is working and the number of accounts in arrears is in consistent decline, while more than 118,500 mortgages have been restructured. This means that each one of these mortgage holders has agreed an affordable payment with their bank.
I have noted the contents of Mr. Joyce's submission relating to a proposal for the introduction of a rent and purchase scheme as a possible resolution for mortgage holders in distress. The Deputy will be aware that housing policy comes under the responsibility of my colleague Mr. Alan Kelly, TD, Minister for the Environment and Local Government and his Department already administers the mortgage-to-rent scheme, which permits a distressed borrower to remain in the family home as a social housing tenant.