Dáil Éireann Debate, Wednesday - 26 July 2017
121. Deputy Eoin Ó Broin asked the Minister for Finance the number of vacant homes in possession in each of the State-backed banks in each of the past 12 months; the number of these homes that were offered to the Housing Agency as per actions 1.1, 2.5 and 5.6 of Rebuilding Ireland; and if he will make a statement on the matter. [35697/17]
Amharc ar fhreagraAs the Deputy is aware, the Minister for Housing, Planning, Community and Local Government last summer launched Rebuilding Ireland, the Action Plan for Housing and Homelessness. The Action Plan represents a whole of government response to the issues in the housing market with actionable measures across a wide range of areas, designed to stimulate housing supply and remove many of the barriers to a normally functioning market.
While the Department does not have the information requested by the Deputy, I recently received the following responses to this question from the two banks in which the State has a majority shareholding:
AIB
All disclosures in relation to Republic of Ireland residential mortgages – properties in possession can be found on page 109 of AIB’s Annual Financial Report 2016. It is the Bank’s policy to sell all assets on a vacant possession basis. AIB has engaged directly with the Housing Agency to provide a list of more than 675 properties for consideration. As at end of June 2017 the Housing Agency has expressed an interest in over 500 of these properties with 281 of these sale agreed. AIB continues to work directly with the Housing Agency to ensure all suitable properties are made available for consideration.
PTSB
Permanent TSB has informed me that in April 2015 the bank reviewed its entire property stock and offered 45 properties to the Housing Agency (HA) based on the HA requirements at that time. One property was selected by the HA and progressed to sale. The bank further advised that the number of properties in possession as at December 2016 were 480. However during 2016 Permanent TSB paused the sale of homes in its possession and paused legal proceedings which might have led to houses being taken into the bank’s possession in order to review processes around such cases in light of lessons from the Mortgage Redress Programme (late 2015). The bank has now lifted that pause and will review options including the offer of properties to the Housing Agency going forward.
