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Mortgage to Rent Scheme

Dáil Éireann Debate, Tuesday - 29 January 2019

Tuesday, 29 January 2019

Questions (612)

Jan O'Sullivan

Question:

612. Deputy Jan O'Sullivan asked the Minister for Housing, Planning and Local Government the measures he is taking to increase awareness of the mortgage to rent scheme among local authority staff, public representatives and persons who remain in mortgage difficulties and who fulfil the criteria to qualify for the scheme, thus allowing them to stay in their own homes; and if he will make a statement on the matter. [4204/19]

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Written answers

Following a Review of the Mortgage to Rent, MTR, Scheme, published on 8 February 2017, a range of amendments to the eligibility criteria and administration of the scheme came into effect to enable more properties to qualify and to make the scheme more flexible and accessible to borrowers. The review, available at the following link: http://rebuildingireland.ie/news/changes-in-mortgage-to-rent-scheme/, explored the impediments to participation in the scheme and recommended a number of actions to make the scheme work better for borrowers. In addition, new structures and arrangements have been put in place to encourage a greater number of entities to take part in the scheme.

Increasing the visibility and familiarity of the scheme among borrowers is a critical objective. One of the issues affecting the operation of the scheme overall is the lack of borrower engagement with their lenders. Increasing awareness and understanding of the scheme has been a priority and a website, www.mortgagetorent.ie, dedicated to guiding and advising borrowers and those acting on behalf of borrowers has been developed by my Department together with the Housing Agency, with input from the Abhaile Service and the Insolvency Service of Ireland. The website, which went live in June 2018, complements the other improvements that have been made to the scheme following the 2017 review and is the national portal for information on the MTR scheme.

My Department and the Housing Agency are working with all stakeholders to ensure that the actions set out in the review are being effectively implemented to benefit a greater number of households. A significant borrower, lender, insolvency practitioner and local authority awareness raising and training programme has been initiated and is ongoing. My Department is continuing to work very closely with the Abhaile Service as well as the Insolvency Service of Ireland and the Money Advice and Budgeting Service, MABS, with a particular focus on reaching out to borrowers in arrears of more than two years.

The Government's focus is to ensure that as many households as possible remain in their homes, and I would encourage borrowers to engage with the Abhaile Service, the national mortgage arrears resolution service, provided free of charge to the borrower. The unique element of Abhaile is that it brings together, for the first time, the full range of supports and services required by borrowers in home mortgage arrears. A dedicated adviser will work with the borrower and their lender to find the best solution for their particular situation. MABS acts as the gateway for the service and can be contacted by telephoning, (076)1072000, or by accessing their website at: www.mabs.ie/abhaile.

For those borrowers in danger of losing their home, who are ineligible for the MTR scheme but qualify for social housing support, it is recommended that they engage as early as possible with their local authority regarding their long-term housing needs.

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