Bernard Durkan (Kildare North, Fine Gael)
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Question 186: To ask the Minister for the Environment, Community and Local Government the extent to which he has received information from the various local authorities in respect of arrears of shared ownership annuity loans; if as a result he will initiate proposals to address the situation whereby borrowers are expected to meet repayments in respect of the rental equity which are greater than those applicable to the mortgage equity; and if he will make a statement on the matter. [6162/12]

Jan O'Sullivan (Limerick City, Labour)
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Under the Shared Ownership Scheme, the rent charged on the local authority's equity in a shared ownership transaction is to cover the funding costs to the Housing Finance Agency which are based on borrowings at the prevailing interest rates. Any difference between the rent and prevailing interest rate is reflected in the capital outstanding on the property, i.e. if the rent charged in any period is greater than the prevailing mortgage interest due on the local authority's share the purchase price of the outstanding equity will be reduced accordingly. My Department does not hold data from housing authorities on the number of mortgages that are in arrears, including in respect of shared ownership transactions.

Bernard Durkan (Kildare North, Fine Gael)
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Question 187: To ask the Minister for the Environment, Community and Local Government if it is expected that the proposed personal insolvency legislation will be available to shared ownership mortgage borrowers who, due to unemployment or other factors, are in danger of having their homes repossessed; and if he will make a statement on the matter. [6163/12]

Jan O'Sullivan (Limerick City, Labour)
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The proposed personal insolvency legislation is a matter for the Minister for Justice and Equality.