My Department, with the assistance of the Housing Agency, the Housing Finance Agency and the Local Authority Housing Loans Management Group, is currently reviewing the operation of the Shared Ownership Scheme for existing borrowers. The objective is to seek to address, where appropriate, any difficulties arising for some shared ownership borrowers. I expect the review will be finalised shortly. The issues arising require careful consideration and expert financial analysis.
The Department’s latest guidelines for local authorities in dealing with mortgage arrears within the local authority sector Dealing with Mortgage Arrears – A Guide for Local Authorities (June 2014) is available on my Department’s website at:
http://www.environ.ie/en/Publications/DevelopmentandHousing/Housing/FileDownLoad,30943,en.pdf .