Fergus O'Dowd (Louth, Fine Gael)

Deputy Ellis raised some important points, some of which I do not have an answer to. I am sure the Department will be able to provide statistics and a response on the Keane report. Local authorities face serious challenges and mortgage holders across the country and shared ownership borrowers are facing additional challenges. We must take account of this. Revised guidance to local authorities on the treatment of mortgage arrears will shortly issue. Closely mirroring the Central Bank's code of conduct on mortgage arrears, it replaces the existing guidance to local authorities. It will include a common mortgage arrears resolution process for use by all local authorities and will provide for the consistent and sympathetic treatment of all distressed local authority borrowers. That is the wish of everyone and particularly Deputy Ellis.

It is also recognises that wider issues beyond mortgage difficulties are faced by shared ownership mortgage holders. These include issues relating to a clawback if the property is sold, mortgage holders facing difficulties buying out the local authority's share of the property after clearing their shared ownership mortgages, and the lack of a facility whereby mortgage holders can rent their property. These issues will all be addressed in the context of the full review of Part V of the Planning and Development Act 2000. This review may lead to legislative amendments, as appropriate, or to new guidance for local authorities and shared ownership mortgage holders, as appropriate. The review is a major commitment on the part of the Department and it will be keenly examining developments in the area.

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