Damien English (Meath West, Fine Gael) | Oireachtas source

I agree that the figures were ambitious, but rightly so. There is potential for the scheme and there was potential for it last year as well. The prediction of 800 this year is realistic when one considers that over 550 applications are in the system and are waiting to be processed, so we can reach the figure. The changes are sufficient. The biggest deterrent, as we found from feedback from interested applicants and from Members of the House, was the issue of ten years. People felt it was a long time to commit to the scheme. The five-year term should solve that. The other issue was the amount of rent available. Up to 92% of the market rate is more attractive. Also, some people still strongly believe that this is not a good enough return for them. I should stress that this scheme was introduced to help people who could not access finance in some other way to make their housing stock available. It is not about meeting everybody's desires but to encourage people who own these properties but do not have an income or cash to bring them forward. We believe the changes we are making should make the scheme more attractive and help us achieve the target of 800 units this year and into the thousands over the next three years. However, it will only work if we promote it. We will try to promote it again. It is a way to bring vacant properties back into use. We all agree with the concept and I ask for the Members' support in getting the message across. It is a good scheme, and it has been improved.

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