Written answers

Tuesday, 14 July 2015

Department of Environment, Community and Local Government

Property Valuations

Photo of Michael RingMichael Ring (Mayo, Fine Gael)
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855. To ask the Minister for Environment, Community and Local Government the increased property value thresholds that will apply in County Mayo following the recent changes to the mortgage-to-rent scheme; and if he will make a statement on the matter. [28550/15]

Photo of Alan KellyAlan Kelly (Tipperary North, Labour)
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The package of commitments on mortgage arrears announced by Government recently includes a number of amendments to the Approved Housing Body Mortgage to Rent Scheme, which will enable more properties to qualify for the scheme and make it more flexible and accessible to borrowers. The principal amendment to the scheme, which took effect from 1 July, is to increase the valuation thresholds applicable which should enable more properties to qualify. The applicable thresholds have been set at two different levels, based on the costs of properties in different areas of the country. In respect of Mayo County Council, which is included as a ‘normal threshold’ area, the revised thresholds that now apply are as follows:

Property Type Normal Threshold Areas
House €250,000
Apartment €190,000

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