Kathleen Lynch (Cork North Central, Labour)
Link to this: Individually | In context

Question 220: To ask the Minister for the Environment, Heritage and Local Government the progress of his Department's discussions with the financial institutions regarding the remortgaging of houses purchased under the affordable housing scheme; when he expects to have in place a standardised arrangement with the financial institution in relation to the clawback provision of the scheme; and if he will make a statement on the matter. [4791/06]

Noel Ahern (Dublin North West, Fianna Fail)
Link to this: Individually | In context

Standardised arrangements are currently in place with two of the main financial institutions who have introduced schemes of mortgage financing for persons wishing to access affordable housing. These arrangements relate only to the first time purchase of affordable properties.

The question of facilitating arrangements for persons in affordable housing also wishing to remortgage with private lenders has been the subject of discussions between my Department and a number of the financial institutions. While these have not yet concluded, my Department will continue to engage with the financial institutions with a view to advancing progress on the matter.