Dáil Éireann Debate, Tuesday - 31 January 2017
282. Deputy Peadar Tóibín asked the Minister for Housing, Planning, Community and Local Government the number of persons who have been approved for mortgage to rent but have not had an interested institution buy their property; and his plans in this regard. [4472/17]
View answerI refer to the reply to Question No. 466 of 17 January 2017, which sets out the position with regard to the number of applications under the Mortgage to Rent scheme that did not complete.
To the end of December 2016, 155 Mortgage to Rent applications did not proceed to completion as no Approved Housing Body was in a position to purchase the property concerned. This can be for a variety of reasons including financial viability, the location of the property, the ability of the AHB to increase their participation in the scheme, the type of property and the condition of the property.
A review of the Mortgage to Rent scheme for borrowers of private commercial lending institutions is now being finalised and I expect it will recommend a number of changes to the current scheme to make it work better for borrowers.
