Dáil Éireann Debate, Tuesday - 27 January 2015
555. Deputy Michael McGrath asked the Minister for the Environment, Community and Local Government the position regarding a mortgage to rent case in respect of persons (details supplied) in County Cork; the next steps in the process; the estimated timeframe for its completion; and if he will make a statement on the matter. [3842/15]
Amharc ar fhreagraI refer to the reply to Question No. 169 of 16 July 2014 where I outlined that an application for provisional approval in the case referenced was received by my Department on 9 June 2014 and this provisional approval was granted the following day.
In an effort to increase the numbers delivered under the scheme a new protocol between all parties in the process was agreed and came into operation in June 2014. The protocol includes such measures as the provision of a single independent valuation for the purpose of agreeing the purchase price. The valuation and condition surveys will now be carried out earlier in the process to give more certainty to all parties in the process including the borrower. The new protocol is endeavouring to ensure that as much certainty is being provided as early as possible in the process to minimise uncertainty and late withdrawals from the scheme.
I understand that a valuation under this new protocol has been requested on the property referred to in the Question. Once this valuation is received by the Housing Agency, and subject to the eligibility criteria for the scheme being met, the property will then be offered to the approved housing body panel for expressions of interest. Once an appropriate approved housing body has been identified, a further submission for full funding approval can be made to my Department.
