Tuesday, 10 February 2015
Department of Environment, Community and Local Government
Mortgage to Rent Scheme Data
566. To ask the Minister for Environment, Community and Local Government his views on amending the terms of the mortgage-to-rent scheme, in order to raise the threshold of house values from €220,000, to a level which reflects the increase in property prices since the scheme has come into being, as many families are still dealing with serious mortgage distress; and if he will make a statement on the matter. [6142/15]
In order for a property to be considered under the mortgage to rent scheme it must be purchased by an Approved Housing Body for less than €220,000 (per property) in the Greater Dublin Area and €180,000 (per property) in the rest of the country. These limits were determined by a working group which took account of available market data and the current social housing acquisition limits. These limits are considered to be reasonable in respect of the income bracket that is targeted by the scheme.