Dáil Éireann Debate, Thursday - 11 March 2021
83. Deputy Brendan Griffin asked the Minister for Housing, Local Government and Heritage if the terms and conditions of a shared ownership house agreement in respect of a person (details supplied) in County Kerry will be reviewed; and if he will make a statement on the matter. [13681/21]
View answerThe "Shared Ownership Scheme" was a national scheme introduced by the Department of the Environment, Community and Local Government in 1992. Local authorities administer the Scheme in each of their administrative areas. The Shared Ownership Scheme was closed to new entrants in June 2011 by the then Government.
The Shared Ownership Scheme facilitated access to full home ownership in two or more stages to persons who could not afford full ownership immediately. The applicant initially acquired a share of between 40% and 75% in a dwelling and rented the remainder from the local authority with an undertaking to acquire the remaining equity within a 25/30 year period. There were two iterations of the Scheme.
In terms of ongoing scheme arrangements it would be important that a participant engages with their local authority on matters as outlined and also seeks independent financial advice and support.
Under relevant legislation, I am precluded from intervening in relation to individual cases such as this.
