Seán Ryan
Ceist:220 Mr. S. Ryan asked the Minister for the Environment and Local Government if he will amend the shared ownership scheme to take maintenance payments into account when assessing the rent portion of the scheme. [10645/98]
Written Answers. - Shared Ownership Scheme.
As part of the Government's Action on House Prices, the rent charged on the local authority's portion of the equity is being reduced from 5 per cent to 4.5 per cent of the updated value of the equity, in respect of shared ownership transactions completed on or after 1 May 1998. This change, which amounts to a 10 per cent reduction in the gross rent, will be of significant benefit to all qualifying participants, including those making maintenance payments. I do not propose to make any further changes to the terms of the scheme at present.