Dáil Éireann Debate, Tuesday - 27 July 2021
775. Deputy Richard Bruton asked the Minister for Housing, Local Government and Heritage if he is in a position to indicate the exact terms of the memorandum of agreement and regulations which shall govern the shared equity scheme in terms of classes of dwelling, security, conditions for redemption, rate of interest and so on; and if he will make a statement on the matter. [41115/21]
Amharc ar fhreagraThe Affordable Housing Act 2021, which cleared all stages in the Oireachtas on the 12th July and which was signed in to law by the President on the 21st of July, is the State's first ever standalone affordable housing legislation. The provisions of the Act establish the basis for four affordable housing measures. These measures will deliver on the Programme for Government commitment to put affordability at the heart of the housing system, and prioritise the increased supply of affordable homes, through (1) delivering affordable homes on local authority lands, (2) the introduction of a new form of tenure in Cost Rental, (3) a new affordable purchase shared equity scheme, and (4) expanding Part V planning requirements to increase the 10% contribution requirement to 20% and to apply it to cost rental as well as social and affordable housing.
Specifically in relation to Part 4 of the Act and the development of a new affordable purchase shared equity scheme, I can confirm that my officials are engaging with a range of stakeholders to finalise the administrative and operational provisions of the scheme. Scheme details, including the broad terms included in any Memorandum of Agreement and the deployment date of the scheme, will be confirmed as part of this process.
