Paudie Coffey (Waterford, Fine Gael) | Oireachtas source

The operation of the scheme is closely monitored on an ongoing basis by the Department and the Housing Agency which are also in regular contact with approved housing bodies and financial institutions. To date, a total of 2,865 cases have been submitted under the approved housing bodies mortgage-to-rent scheme. Of these, 2,036 were deemed ineligible or terminated during the process. Of the remaining 829 cases submitted, 97 have been completed. In a further 44 the sale could not be agreed. A total of 115 are with the lenders, with the remaining 573 being actively progressed.

There has been an increase in the number of cases being progressed through the scheme in recent months. The new protocol endeavours to ensure certainty is provided as early as possible in the process to minimise uncertainty and late withdrawals from the scheme. In addition, the recently announced package of measures will bring more flexibility to the scheme and enable more properties to qualify. In that context, I expect approximately 250 mortgage-to-rent transactions to be completed this year.

I am keeping the scheme under review. This will give me an opportunity to address some of the Deputy's concerns and give them due consideration.

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