Tuesday, 27 September 2016
Department of Housing, Planning, Community and Local Government
Mortgage to Rent Scheme Applications
327. To ask the Minister for Housing, Planning, Community and Local Government the number of applications for the mortgage-to-rent schemes which have been approved and finalised since the scheme's inception; and if he will make a statement on the matter. [26683/16]
328. To ask the Minister for Housing, Planning, Community and Local Government the various housing bodies which are approved under the Housing to Rent Scheme; and if he will make a statement on the matter. [26684/16]
I propose to take Questions Nos. 327 and 328 together.
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 second scheme provides for an Approved Housing Body (AHB) to acquire ownership of a property with an unsustainable private mortgage from a lender, which also enable the household to remain in their home as a social housing tenant (AHB-Mortgage-to-Rent). 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 Local Authority Mortgage to Rent (LAMTR) scheme applications during its pilot phase in Dublin City Council and Westmeath County Council in 2013 and from the national roll out of the scheme in 2014 to end - 2015 is available on my Department’s website at the following link:. Local authorities are responsible for submitting valid LAMTR applications to my Department and all applications received were approved.
In addition, to date in 2016, 27 LAMTR cases have been received and approved and a further 10 claims have been received from Dublin City Council and are currently being processed by my Department.
In relation to activity under the AHB Mortgage to Rent scheme which was introduced in 2012, up to the end of Quarter 2 2016, a total of 3,432 cases had been submitted. Of the 3,432 cases submitted, 2,593 were ineligible or terminated during the process, for a variety of reasons. Agreement on the sale could not be agreed in a further 76 cases. Of the remaining cases submitted, 675 are actively being progressed and 164 have been completed. Participation in the scheme is open to any AHB that has expressed an interest in the scheme and signed up to the Voluntary Regulation Code: Building for the Future - A Voluntary Regulation Code For Approved Housing Bodies in Ireland. A panel of such AHBs has been established by the Housing Agency which administers the MTR scheme. The AHBs that are currently operating the scheme are Oaklee Housing Trust, Tuath Housing Association, Clúid Housing Association, North and East Housing Association, Respond! Housing Association, Tintéan Housing Association and Carbery Housing Association.
Further statistical information relating to the Scheme since its inception, including AHB activity, is available on the Housing Agency’s website: www.housingagency.ie/Our-Services/Housing-Supply-Services/Mortgage-to-Rent.aspx.