Michael McGrath (Cork South Central, Fianna Fail)
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1067. To ask the Minister for Environment, Community and Local Government the loan restructuring options available under the local authority mortgage arrears resolution process; his plans to extend this range of options to include, for example, split mortgage or mortgage write-down; and if he will make a statement on the matter. [22036/15]

Alan Kelly (Tipperary North, Labour)
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The Central Bank’s code of Conduct on Mortgage Arrears requires all mortgage lenders to ensure that it has in place a Mortgage Arrears Resolution Process (MARP) as a framework for handling such cases. My Department introduced such guidelines to local authorities in 2012 and, subsequently, issued revised guidelines in June 2014. These guidelines - Dealing with Mortgage Arrears – A Guide for Local Authoritiesare available on my Department’s website at the following link:

A range of alternative repayment arrangements are available to local authority borrowers in arrears under the MARP. These include:

-interest only repayments on the mortgage for a period of time;

- paying interest and part of the capital for a period of time;

- deferring, in exceptional circumstances, payment for a period of time;

- extending the term of the mortgage to maximum of 35 years and maximum borrower age of 70;

-changing the type of the mortgage, in certain circumstances;

-adding arrear s and interest to the principal amount due; and

-Local Authority Mortgage to Rent (MTR) scheme.