Results 1,581-1,600 of 8,073 for speaker:Peter Burke

Public Accounts Committee: Vote 34: Housing, Planning, Community and Local Government (8 Mar 2018)

Peter Burke: Do the banks not know this?

Public Accounts Committee: Vote 34: Housing, Planning, Community and Local Government (8 Mar 2018)

Peter Burke: Can Mr. McCarthy talk through the precise process, step-by-step, for a private lender and an individual who has a mortgage with the lender when they wish to go through the mortgage-to-rent process? We have discussed how it works in the local authority sector. Logistically, how does it work in the private sector, step-by-step?

Public Accounts Committee: Vote 34: Housing, Planning, Community and Local Government (8 Mar 2018)

Peter Burke: It is established that it is an unsustainable mortgage. It is a hugely stressful process for a homeowner to go through in terms of realising that he or she might have to give up the home and rent it afterwards. That is massive in itself for a family. However, let us say somebody comes to that conclusion and wishes to enter this process. Where does the person go from there?

Public Accounts Committee: Vote 34: Housing, Planning, Community and Local Government (8 Mar 2018)

Peter Burke: To whom do they submit the application?

Public Accounts Committee: Vote 34: Housing, Planning, Community and Local Government (8 Mar 2018)

Peter Burke: I am sorry for interrupting, but let us assume that the criteria for social housing are met. To whom is the application submitted?

Public Accounts Committee: Vote 34: Housing, Planning, Community and Local Government (8 Mar 2018)

Peter Burke: Is that an approved housing agency or-----?

Public Accounts Committee: Vote 34: Housing, Planning, Community and Local Government (8 Mar 2018)

Peter Burke: The application is submitted to the agency. What happens then?

Public Accounts Committee: Vote 34: Housing, Planning, Community and Local Government (8 Mar 2018)

Peter Burke: It is seven.

Public Accounts Committee: Vote 34: Housing, Planning, Community and Local Government (8 Mar 2018)

Peter Burke: Let us stop there and refer to the crystallisation process for the debt that is in this mortgage account. We were speaking earlier about the local authorities and I referred to €130,000 where the house is worth €65,000 so there is €65,000 to be crystallised. The Department has a budget for that. Is that correct, or where does it go?

Public Accounts Committee: Vote 34: Housing, Planning, Community and Local Government (8 Mar 2018)

Peter Burke: The Department does not offer anything to that. The lender takes that write down.

Public Accounts Committee: Vote 34: Housing, Planning, Community and Local Government (8 Mar 2018)

Peter Burke: Will Ms Murray repeat that?

Public Accounts Committee: Vote 34: Housing, Planning, Community and Local Government (8 Mar 2018)

Peter Burke: In theory, the Department is relying on these seven agencies for the success of the scheme.

Public Accounts Committee: Vote 34: Housing, Planning, Community and Local Government (8 Mar 2018)

Peter Burke: Where is the problem then, if the cases are so small? Something definitely does not make sense here.

Public Accounts Committee: Vote 34: Housing, Planning, Community and Local Government (8 Mar 2018)

Peter Burke: It is a part of it but in terms of the approved housing bodies - the seven agencies - are they operating efficiently in relation to their component of the transaction?

Public Accounts Committee: Vote 34: Housing, Planning, Community and Local Government (8 Mar 2018)

Peter Burke: I accept that fully but it is not a ringing endorsement of the seven approved housing agencies. Is it fair to say that?

Public Accounts Committee: Vote 34: Housing, Planning, Community and Local Government (8 Mar 2018)

Peter Burke: Can Mr. McCarthy repeat that?

Public Accounts Committee: Vote 34: Housing, Planning, Community and Local Government (8 Mar 2018)

Peter Burke: Who deals directly with the approved housing body on the application to finalise that end of the transaction?

Public Accounts Committee: Vote 34: Housing, Planning, Community and Local Government (8 Mar 2018)

Peter Burke: Is there any concern about the locations of properties or the stock the housing bodies take on? Can they refuse an application in theory if they feel the property may be unsuitable for them in the future?

Public Accounts Committee: Vote 34: Housing, Planning, Community and Local Government (8 Mar 2018)

Peter Burke: What has changed that will lead to an improvement in the figures?

Public Accounts Committee: Vote 34: Housing, Planning, Community and Local Government (8 Mar 2018)

Peter Burke: Mr. McCarthy is talking about a private investor entering the market on a major scale. The State would rent the property from the investor. Is that it?