Dáil Éireann Debate, Tuesday - 22 November 2016
73. Deputy Joan Collins asked the Minister for Social Protection his views on the recommendations of the Oireachtas Committee on Housing and Homelessness that a targeted use of mortgage interest supplement be restored to assist persons with a short-term mortgage arrears problem; and if he will make a statement on the matter. [35973/16]
Amharc ar fhreagra85. Deputy Joan Collins asked the Minister for Social Protection his plans to restore the mortgage interest supplement to assist persons with a short-term mortgage arrears problem. [36002/16]
Amharc ar fhreagraI propose to take Questions Nos. 73 and 85 together.
The mortgage interest supplement (MIS) scheme is supporting 2,200 recipients at an estimated cost of €6 million for 2016 and is paid to people who were availing of this support prior to the closure to new claimants from 1st January 2014. I have no plans at this time to restore this scheme.
The most appropriate pathway for people experiencing mortgage difficulties is through on-going engagement with their lender; exploring sustainable solutions within the Mortgage Arrears Resolution Process (MARP) and the provision of independent expert advice and support.
The Money Advice and Budgeting Service (MABS) has been developed to provide more targeted services to support mortgage holders in arrears. In mid–2015, a Dedicated Mortgage Arrears MABS (DMA MABS) service was established which focuses on post-MARP cases. There are 30 specialist mortgage advisors in place at 25 locations across the country and over 2,500 clients have engaged with this service to date.
In early October, together with the Tánaiste and Minister for Justice and Equality, I launched ABHAILE, the Mortgage Arrears Resolution Service. A key component of ABHAILE is the Scheme of Aid and Advice for Borrowers in Home Mortgage Arrears. This scheme helps people who are insolvent and in serious mortgage arrears to access independent expert financial and legal advice, free of charge, with the key priority being to support families to remain in their own homes. The scheme is being put in place for a period of three years, at an expected total cost of €15 million, to include a promotional campaign to highlight the availability of the new services. To date, 2,400 vouchers have issued under this effective initiative.
I am continuing to monitor the supports and services which the Government has now put in place to assist homeowners in serious mortgage arrears.
