Seán Fleming (Laois, Fianna Fail) | Oireachtas source

I have raised this issue by way of parliamentary question and received zero answer on it. The issue is as follows and it relates to the current mortgage-to-rent scheme. A pilot scheme was being looked at after the last mortgage-to-rent scheme was up and running. At the end of the pilot scheme, they will do a handful and in another year they might roll out some more. Ms Murray has answered the question. She said the matter is between the lender and the homeowner. The lenders still reserve the right to come after the renter for the negative equity. That has never been stated by the Department. The Department always says it is not matter for the Department. It is between the lender and the borrower and the Department does not interfere with that. If one looks at the agreements as I have, they reserve the right to contact the renter who has given up the title to the house at any stage in the future to discuss that matter. Officialdom is blind to that as it is not a matter for them; it is between the borrower and the lender. That has put a lot of people off. Under the new arrangements and the pilot scheme being looked at now, I understand the new companies coming into this field have agreed not to pursue the negative equity and to make it absolutely clear when they do the deal with the voluntary approved housing body that it is the end of the matter. Those companies will take the write-down whereas previously lenders were not giving that absolute commitment. I have encountered those cases. It might not be the answer for it all, but it is certainly an answer for some of them.