Brendan Smith (Cavan-Monaghan, Fianna Fail)
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248. To ask the Minister for Housing, Planning, and Local Government the comparative analysis of the number of repossessions both in process and finalised in the past 24 months in respect of local authority loans and shared ownership schemes by county; the lending organisations which have sought repossession; and if he will make a statement on the matter. [18478/18]

Eoghan Murphy (Dublin Bay South, Fine Gael)
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Information in relation to local authority repossessions of properties that were financed using a local authority home loan and which are now either repossessed, voluntarily surrendered or abandoned is available on my Department’s website at the following link, under the heading “Local authority repossessions” - .

This data is not broken down by loan type.  My Department does not currently hold data on the number of homes purchased under the Shared Ownership (SO) scheme, which was stood down in 2011, that have subsequently been repossessed, voluntarily surrendered or abandoned.

My Department, together with the Housing Agency, the Housing Finance Agency and local authorities, has considered the affordability issues facing some borrowers who purchased properties under the SO scheme and devised a more affordable long-term path towards full home ownership.  A range of measures have already been taken to reduce the monthly repayments of these borrowers.  In addition, a new restructuring option has been available to SO borrowers since April 2016, which involves rolling up all outstanding debt into a single annuity loan.

A Mortgage to Rent scheme for local authority borrowers has been in place nationally since 2014.  Under the scheme, a local authority can acquire ownership of properties with unsustainable local authority mortgages, thus enabling the household to remain in their home as social housing tenants.  The scheme is part of the overall suite of social housing options and an important part of the mortgage arrears resolution process. To the end of 2017, 370 households had benefited from the scheme.  Information on Local Authority Mortgage to Rent (LAMTR) scheme applications broken down by county is available from my Department's website at the following link under the heading "Local Authority Mortgage to Rent" - .

Local authority borrowers are encouraged to engage with their local authority at the earliest opportunity if they are having difficulties making the repayments on their mortgage.  Information in relation to the local authority mortgage arrears resolution process (MARP) and the help available to borrowers is also available on my Department's website at the following link:

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