Written answers

Wednesday, 4 May 2016

Department of Finance

Private Rented Accommodation Data

Photo of Peadar TóibínPeadar Tóibín (Meath West, Sinn Fein)
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44. To ask the Minister for Finance his views that a large number of individual properties (details supplied) are either vacant and attracting anti-social behaviour elements or have been let to tenants who are the cause of anti-social behaviour; the number of properties in these categories; and if he will direct the banks to allow for ownership details to be made available. [8832/16]

Photo of Michael NoonanMichael Noonan (Limerick City, Fine Gael)
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The Deputy will be aware that the governance of the relationship between residential tenants and residential landlords is primarily a matter for the Department of the Environment, Community and Local Government. In that regard, the Residential Tenancies Act 2004 provides the main regulatory framework for the private rented residential sector and prescribes the rights and obligations of landlords and tenants and the Private Residential Tenancies Board is responsible for the resolution of disputes between tenants and landlords.

I am informed by the Central Bank that there were 1,760 principal dwelling houses (PDH) properties and 668 buy-to-let (BTL) properties in the possession of banks at the end of December 2015. However neither the Central Bank nor my own Department collect information about the occupancy of properties with mortgages that are in arrears.

The Deputy will also be aware that relationship frameworks are in place with the State owned banks which provide that the State will not intervene in the day-to-day operations of the banks or their management decisions. These frameworks are required to ensure that the banks are run on a commercial, cost effective and independent basis to ensure the value of the banks as an asset for the State.

In conclusion I would remind the Deputy that the Government strategy to deal with Mortgage Arrears has developed and been enhanced over recent years and over time additional measures have been introduced as the nature and circumstances of those in arrears has evolved. Data released by the Central Bank shows that PDH arrears have declined for the last ten quarters. However, a significant number of borrowers remain in arrears of more than two years and in May of last year the Government announced a package of further measures to assist distressed borrowers.

To date a cross-Departmental approach, led by the Department of the Taoiseach, has been adopted to address the problem of mortgage arrears, encompassing supervisory oversight of financial institutions by the Central Bank, significant reform to personal insolvency legislation, State-funded access to expert financial and legal advice for borrowers in arrears on their family home, and availability of a mortgage-to-rent option to enable eligible borrowers to remain in their homes as local authority, or approved housing body, tenants.

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