Dáil Éireann Debate, Thursday - 13 July 2017
1288. Deputy Michael McGrath asked the Minister for Housing, Planning, Community and Local Government the number of applications to the mortgage to rent scheme; the number of mortgage to rent transactions that have been fully completed to date in 2017, by lender, local authority and approved housing body; and if he will make a statement on the matter. [33757/17]
View answer1289. Deputy Michael McGrath asked the Minister for Housing, Planning, Community and Local Government the number of mortgage to rent applications rejected on the grounds of ineligibility per year since the scheme's creation broken down by reason for ineligibility in tabular form; and if he will make a statement on the matter. [33758/17]
View answerSince the introduction of the Mortgage to Rent (MTR) Scheme for borrowers of private commercial lending institutions in 2012, a total of 3,694 cases have been submitted under the scheme up to the end of June 2017. Of the 3,694 cases submitted, 2,879 were ineligible or terminated during the process. Of the remaining cases submitted, 265 have been completed and the remaining 550 are being actively progressed.
The Housing Agency publishes, on a quarterly basis, detailed statistical information on the operation of the MTR scheme, including the number of properties deemed ineligible and the number of mortgage to rent transactions that have been completed. This information which is updated to the end of Q2 2017 is available on the Agency's website at the following link: https://www.housingagency.ie/our-services/housing-supply-services/mortgage-to-rent.aspx .
The Review of the Mortgage to Rent Scheme for borrowers of commercial private lending institutions published on 8 February 2017 contains a number of actions to make the MTR process quicker, more transparent, easier to navigate for borrowers and ultimately, more accessible to more households in mortgage distress. The Review is available on the Rebuilding Ireland website at the following link: http://rebuildingireland.ie/install/wp-content/uploads/2017/02/Review-of-the-Mortgage-to-Rent-Scheme-February-2017.pdf.
My Department and the Housing Agency are in the process of implementing each of the actions set out in the Review and I am confident that these changes will make a significant impact to those households who can benefit from access to the scheme.
