Michael McGrath (Cork South Central, Fianna Fail)
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387. To ask the Minister for Environment, Community and Local Government to provide details for each local authority and approved housing body, of the number of completed mortgage-to-rent transactions to date; and if he will make a statement on the matter. [13148/16]

Simon Coveney (Cork South Central, Fine Gael)
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There are currently two Mortgage to Rent (MTR) schemes funded by my Department. A scheme exists whereby a local authority (LA) can acquire ownership of properties with unsustainable local authority mortgages, thus enabling the household to remain in their home as a social housing tenant (LA- Mortgage-to- Rent). The other scheme provides for an Approved Housing Body (AHB) to acquire ownership of a property with an unsustainable private mortgage, which also enables the household to remain in their home as a social housing tenant (AHB- Mortgage-to- Rent). Both schemes assist families with income difficulties whose mortgages are unsustainable, and where there is little or no prospect of a significant change in circumstances in the foreseeable future. Both schemes are part of the overall suite of social housing options and an important part of the mortgage arrears resolution process.

Information in relation to LA-Mortgage-to- Rent scheme transactions during its pilot phase in Dublin City Council and Westmeath County Council in 2013 and annual transactions, broken down by local authority, following national roll out of the scheme in 2014 is available on my Department’s website:

To date in 2016, my Department has funded a further 3 transactions in the Dublin City Council area. The deadline for the next tranche of funding claims from local authorities is 31 July 2016 and my Department expects to receive further claims.

In relation to activity under the AHB Mortgage to Rent scheme, at the end of April 2016 a total of 162 cases have been completed,18 are currently with the lenders who are seeking the consent of borrowers to share information and for the carrying out of an independent valuation, and 645 are actively being progressed. The following tables give the breakdown by Local Authority and by AHB.

Table 1

Mortgage to Rent by Local Authority Area (AHB MTR)to end April 2016

Table 2

Mortgage to Rent by Approved Housing Body (AHBMTR) to end April 2016