John Perry (Sligo-North Leitrim, Fine Gael)
Link to this: Individually | In context

Question 949: To ask the Minister for the Environment, Heritage and Local Government if he can clarify if a person (details supplied) in County Sligo who is in a shared ownership arrangement with Sligo County Council, is allowed to sell her house; if the council will accept the percentage loss that will be incurred due to the current economic climate; and if he will make a statement on the matter. [38375/09]

Michael Finneran (Roscommon-South Leitrim, Fianna Fail)
Link to this: Individually | In context

A person occupying a house under the shared ownership scheme can sell their house at any time provided he or she has bought out the local authority's share and has acquired full ownership of the dwelling. Full ownership may be achieved either by purchasing, from time to time, additional shares of the authority's equity or a single outright purchase of its remaining equity. The cost of purchasing an additional share or the redemption value of the outstanding share, for transactions commenced from 1 January 2003, is based on its initial cost adjusted annually to compensate for differences between the rent paid on the local authority's share and the interest calculated by reference to the prevailing interest rates.

The scheme is structured so that, on redemption, the price of the outstanding share is not determined on the basis of a percentage of current market value, but is, rather, a function primarily of its initial capital cost. Accordingly, the issue of an authority accepting a loss due to the current economic climate may not arise and is, in any event, not relevant to any decision to allow the sale to proceed.

Róisín Shortall (Dublin North West, Labour)
Link to this: Individually | In context

Question 950: To ask the Minister for the Environment, Heritage and Local Government the number of people in receipt of rent supplement who have refused an offer under the rental accommodation scheme. [38376/09]

Michael Finneran (Roscommon-South Leitrim, Fianna Fail)
Link to this: Individually | In context

Based on information provided by local authorities to my Department, in relation to the Rental Accommodation Scheme (RAS), the total number of RAS offers refused since the inception of the Scheme until the end of September 2009 is 609. My Department does not collect information in relation to the specific number of households that have refused accommodation.