Dáil Éireann Debate, Thursday - 15 February 2018
300. Deputy Michael McGrath asked the Minister for Housing, Planning and Local Government the amount of Exchequer funds spent funding the purchase of homes by local authorities or approved housing bodies under the mortgage to rent scheme; and the number of homes the expenditure related to in each of the years since 2012, in tabular form. [8016/18]
Amharc ar fhreagraThere are currently two Mortgage to Rent (MTR) schemes funded by my Department. A scheme exists whereby a local authority (LA) can acquire ownership of properties with unsustainable local authority mortgages, thus enabling the household to remain in their home as a social housing tenant (LA-Mortgage-to-Rent). The other scheme provides for an Approved Housing Body (AHB) to acquire ownership of a property with an unsustainable private mortgage, which also enables the household to remain in their home as a social housing tenant (AHB-Mortgage-to-Rent). Both schemes assist families with income difficulties whose mortgages are unsustainable, and where there is little or no prospect of a significant change in circumstances in the foreseeable future. Both schemes are part of the overall suite of social housing options and an important part of the mortgage arrears resolution process.
Information in relation to LA-Mortgage-to-Rent scheme transactions during its pilot phase in Dublin City Council and Westmeath County Council in 2013 and annual transactions, broken down by local authority, following national roll out of the scheme in 2014, is available on my Department’s website at the following link:
http://www.housing.gov.ie/housing/statistics/house-prices-loans-and-profile-borrowers/local-authority-loan-activity
Information in relation to the AHB Mortgage to Rent scheme is outlined in the following table.
|
Year |
AHB MTR Expenditure* |
No. of AHB MTR operational units |
|
€ |
||
|
2012 |
0 |
0 |
|
2013 |
€226,567 |
16 |
|
2014 |
€381,098 |
33 |
|
2015 |
€780,131 |
58 |
|
2016 |
€1,794,498** |
71 |
|
2017 |
€3,019,338*** |
86 |
* Owing to the nature of the Capital Advance Leasing Facility scheme, AHB MTR unit delivery does not always arise in the same year as expenditure being incurred and is not directly related to the units that became operational in each year.
**Includes 6 AHB MTR transactions costing €186,495 that were funded through Local Property Tax self-funding.
***Includes 12 AHB MTR transactions costing €244,550 that were funded through Local Property Tax self-funding.
