Michael McGrath (Cork South Central, Fianna Fail)
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538. To ask the Minister for Environment, Community and Local Government for a detailed breakdown of local authority mortgage arrears including, for example, the number in arrears for more than 360 days and 720 days; a detailed breakdown of the restructuring arrangements entered into; and if he will make a statement on the matter. [39323/15]

Alan Kelly (Tipperary North, Labour)
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My Department publishes a range of data relating to local authority mortgage lending and arrears, including the number of loans in arrears for more than 90 days. These are available on the Department’s website at the following link: .

More detailed arrears information is being compiled and validated by my Department and will be forwarded to the Deputy as soon as possible. A detailed breakdown of local authority housing loan restructuring arrangements in place is not available in my Department.

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 guidelines for local authorities in 2012 and, subsequently, issued revised guidelines in June 2014. These guidelines, Dealing with Mortgage Arrears – A Guide for Local Authorities, are 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 a maximum of 35 years and a maximum borrower age of 70;

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

- adding arrearsand interest to the principal amount due; and

- Local Authority Mortgage to Rent (MTR) scheme.

The operation of MARP within local authorities is kept under constant review.

In cases of acute mortgage distress, homeowners also have the option of seeking to avail of the legal process now also in place to deal with personal insolvency. The most important step any household in arrears can take is to engage early with the Arrears Support Unit of the local authority. Solutions are available and advice should be sought as early as possible.