Terence Flanagan
Ceist:451. Deputy Terence Flanagan asked the Minister for the Environment, Community and Local Government the steps he is taking to support home ownership; and if he will make a statement on the matter. [2590/13]
Amharc ar fhreagraTuesday, 22 January 2013
Ceisteanna (451)
Freagraí scríofa
The Government’s housing policy statement published in June 2011 marked a radical departure for housing in Ireland. The statement clearly recognises the economic consequences of an over reliance on the property sector. It signalled a shift to a tenure neutral high level objective, and a clear commitment to restoring balance to the housing sector generally through a lesser reliance on home ownership. The statement also announced the standing down of all affordable housing schemes on the basis that these had been symptoms of, rather than solutions to, an overheated property market. The policy statement reaffirms the State's commitment to supporting access to home ownership for lower to middle income households and the current range of paths to home ownership will remain in place in that regard. Two types of house purchase loan are available from local authorities: standard annuity loans targeted at lower income first time buyers and those under the Home Choice Loan scheme which are available to qualifying middle income first time buyers affected by the “credit crunch”. The terms and conditions governing the operation, including eligibility terms, of annuity mortgages and the Home Choice Loan are set out under the Housing (Local Authority Loans) Regulations 2009 and the Housing (Home Choice Loan) Regulations 2009 respectively. These are available on my Department's website: www.environ.ie
The Government is also committed to supporting local authority mortgage holders experiencing arrears difficulties, particularly through the updated guidance issued to local authorities in July 2012. This guidance will further enable local authorities to provide a range of flexible repayment of options for households in difficulties.
In particular, the introduction of a Mortgage Arrears Resolution Process (MARP) will closely mirror the suite of options available in the commercial sector. This process will feature a standard set of options including, in cases of certain unsustainable mortgages, the facility of mortgage-to-rent. I expect that the adoption of these revised guidelines will serve simultaneously to help resolve mortgage difficulties for both local authorities and their borrowers, and ensure that, where possible, households will be facilitated to continue to live in their own homes.