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 (LAMTR ). 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 MTR ).

The LAMTR scheme commenced as a pilot in 2013 in Westmeath County and Dublin City Councils and was rolled out nationally in February 2014. The AHB MTR scheme was launched in June 2012.

To date, 200 LAMTR transactions have been completed. Details of the LAMTR transactions broken down by local authority during period 2013 to 2015 are available on my Department’s website at:

by clicking the ‘LAMTR transactions’ link. To date in 2016, 7 LAMTR transactions have been completed: 3 in Dublin City, 2 in Cavan and 1 in both Kilkenny and Longford. The deadline for the next tranche of LAMTR funding claims from local authorities is 31 July 2016 and my Department expects to receive further claims. As of 21 July, a further 16 LAMTR claims from Dublin City Council are on hand in my Department for processing to completion in the coming days.

While the AHB MTR scheme is the responsibility of my Department, the Housing Agency co-ordinates its day-to- day functioning on behalf of my Department. In this regard, the Housing Agency has developed panels of both AHBs and financial institutions that have an interest in participating in the scheme.

As at the end of May 2016, 164 cases had been completed, 16 were with the lenders seeking the consent of borrowers to share information and for the carrying out of an independent valuation, and 675 cases were actively being progressed.

The tables below illustrate the breakdown of the completed AHB MTR cases by lender, local authority and AHB.

Table 1- Breakdown by Financial Institution/Lender

Table 2- Breakdown by Local Authority

Table 3- Breakdown by Approved Housing Body