Thursday, 7 March 2019

Ceisteanna (77)

Clare Daly


77. Deputy Clare Daly asked the Minister for Finance if mortgage holders of a bank (details supplied) whose mortgages were sold to a company will be offered the option of the mortgage to rent scheme; and if he will make a statement on the matter. [11339/19]

Amharc ar fhreagra

Freagraí scríofa (Ceist ar Finance)

At the time of announcing Project Glenbeigh, PTSB confirmed that within six months the loans would transfer to Pepper Ireland who will then hold legal title to the loans. In addition, Pepper will act as servicer and administrator handling all of the day-to-day management of these loans.

Representatives of Pepper, including the CEO, appeared at the debate of the Joint Committee on Finance, Public Expenditure and Reform, and Taoiseach on 6 December last to discuss Project Glenbeigh. During this debate mortgage-to-rent was discussed.

During the debate, the Pepper CEO confirmed that Pepper works hard on mortgage to rent highlighting that the company has completed more mortgage to rent solutions than any other provider in Ireland. The CEO further commented that Pepper is very much engaged with all the housing bodies and with the two mortgage to rent bodies that exist in Ireland adding that if Pepper can make a mortgage to rent case work, it will make it work.

The following link contains the latest statistics published by the Housing Agency which show that Pepper has completed 30% of all completed mortgage-to-rent cases, the highest of all providers.