Eoin Ó Broin (Dublin Mid West, Sinn Fein) | Oireachtas source

I thank the Minister for his reply. Any of us who is keen to see greater solutions for those in mortgage distress will keep an open mind on this. The first key issue is security of tenure. As the Minister knows, under the current rules, if somebody mortgages to rent with an approved housing body, they effectively have a lifetime tenancy. Will the same type of principle apply in these cases? If we consider, say, a 20-year lease with a fund, even a long-term reputable investment fund, the difficulty is about what will happen at the end of the 20-year period. There is also the issue of the financing because there is considerable financial support for the approved housing bodies, albeit not as much as they would like, both in terms of the 40% figure, essentially a grant deposit, as well as the €15,000 grant for refurbishment. If the involvement of funds involves an approved housing body and a fund, as one model is proposing, that has implications but if it just a fund that is going to purchase large volumes of distressed mortgages, does the Minister envisage those involved having the same access for the €15,000 grant for repairs or, for example, something similar to the capital loan and subsidy scheme, CLSS, payment to assist them with a deposit? What is the current thinking on those issues?

See this speech in context