Dáil Éireann Debate, Tuesday - 26 May 2015
972. Deputy Michael McCarthy asked the Minister for the Environment, Community and Local Government to outline his views on correspondence (details supplied) regarding the mortgage-to-rent scheme; and if he will make a statement on the matter. [20690/15]
Amharc ar fhreagraUnder the Approved Housing Body (AHB) Mortgage to rent scheme cases are offered to AHBs that have expressed an interest in the scheme. At the time this case is offered, full financial details are provided to enable the AHBs to make an informed choice as to how feasible the transaction is for them. If an AHB does not think the transaction is feasible with the financial information provided, it is not expected that an AHB would accept that case.
Once accepted, the case should be progressed as quickly as possible to ensure that there is the least amount of uncertainty for the household involved. If an AHB cannot progress the case the Housing Agency should be informed as soon as possible to enable it to seek an alternative AHB.
In respect of the case that the Deputy has referred to, it would appear that the AHB is having difficulty raising the remaining finance required to complete the transaction. In such a circumstance I would expect the AHB to either resolve the issue or return the cases to the Housing Agency for consideration by other AHBs as quickly as possible.
The Government has recently announced changes to the mortgage to rent scheme as part of a broader package of measures to deal with mortgage arrears. The changes being made will make the scheme more flexible and accessible and are designed to enable more properties to qualify for the scheme.
