Dáil Éireann Debate, Tuesday - 9 July 2013
378. Deputy James Bannon asked the Minister for the Environment, Community and Local Government if he will provide the up-to-date report approved by his Department regarding two councils, Westmeath County Council and Dublin City Council, approved for mortgage to rent projects; his views as to when it will be rolled out to a full national scheme; the funds available to each local authority; and if he will make a statement on the matter. [33134/13]
Amharc ar fhreagraOn foot of the recommendations of the Keane Report on mortgage arrears the Government launched a mortgage to rent scheme on a pilot basis in February 2012. This scheme was extended nationally in June 2012, targeting those low income families whose mortgage situation is unsustainable and where there is little or no prospect of a significant change in circumstances in the foreseeable future. The scheme ensures that the family remains in their home, while ownership is transferred to an approved housing body who in turn rent it to the original owners. Eligibility requirements are in line with other forms of social housing support. To date, over 1,217 cases have been submitted by lenders. Of these, 415 borrowers have been engaged with or are in the process of being engaged with by the lender. A total of 47 sales have now been completed. A pilot mortgage to rent scheme for the most acute cases of local authority mortgage arrears is currently being operated by Westmeath County and Dublin City Councils. This scheme is currently being evaluated ahead of a national roll-out in the coming months.
