Michael McGrath (Cork South Central, Fianna Fail)
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To ask the Minister for Environment, Community and Local Government if he will confirm the number of mortgage to rent transactions that have been fully completed to date; if he will confirm the number currently at an advanced stage; and if he will make a statement on the matter. [7037/13]

Simon Harris (Wicklow, Fine Gael)
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To ask the Minister for Environment, Community and Local Government the status of implementing the mortgage to rent scheme whereby a homeowner who is unable to pay their mortgage can hand possession of their home to a local authority and continue to reside in their home; the way a person would go about applying for this scheme and if this scheme is now available in all local authorities; the number of persons he envisages being able to avail of this scheme and the criteria which needs to be met; and if he will make a statement on the matter. [6721/13]

Barry Cowen (Laois-Offaly, Fianna Fail)
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To ask the Minister for Environment, Community and Local Government the number of people that have taken up the mortgage to rent scheme by the end of 2012; the number expected to take it up in 2013; and if he will make a statement on the matter. [7194/13]

Barry Cowen (Laois-Offaly, Fianna Fail)
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To ask the Minister for Environment, Community and Local Government the number of people that availed of the mortgage to rent scheme by the end of 2012 broken down on a county basis; and if he will make a statement on the matter. [7195/13]

Jan O'Sullivan (Limerick City, Labour)
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I propose to take Questions Nos. 439, 451, 467 and 468 together.

On foot of the recommendations of the Keane Report on mortgage arrears the Government launched a mortgage to rent scheme on a pilot basis in February 2012. This scheme was extended nationally in June 2012, targeting those low income families whose mortgage situation is unsustainable and where there is little or no prospect of a significant change in circumstances in the foreseeable future. The scheme ensures that the family remains in their home, while ownership is transferred to an approved housing body who in turn rent it to the original owners.

Householders seeking to avail of the mortgage to rent scheme must:

- have been involved in the Mortgage Arrears Resolution Process (MARP) with their lender and agree that they can no longer afford to pay their mortgage loan now or in the future;

- own the property they live in, with a current market value of less than €220,000 in the Dublin area or less than €180 ,000 in the rest of the country;

- have their property in good condition, in a suitable location and which must suit their current needs ;

- not own any other property or have assets in excess of €20,000;

- be eligible for social housing;

- have a long-term right to remain in Ireland.

At the end of 2012, 558 cases had been submitted by lenders. Of these, 289 were being processed, and 136 borrowers had been engaged with or were in the process of being engaged with by the lender. Sales had been agreed on 8 properties, with 2 of these having been completed. Full details of those availing of the Scheme by end 2012 on a county basis are set out in the table below.

The numbers of completed transactions is low but significant progress has been made. All of the main lenders and so called sub-prime lenders are fully engaged and have instituted the necessary internal processes. It is also important to bear in mind that the transition from being a homeowner to a social housing tenant is a major one for families. Mortgage to rent or other such interventions cannot be rushed for any party. For example, the process provides a 60 day decision period and a 28 day cooling off period within the timeframe of the scheme. My Department estimates that the overall timeframe per case from start to completed transaction will be up to eight months. This compares favourably to the timeframes in other jurisdictions operating similar schemes.

My Department has budgeted for the resolution of roughly 250 Mortgage-To-Rent transactions in 2013.

Breakdown of MTR applications at end 2012 by local authority: