Niamh Smyth (Cavan-Monaghan, Fianna Fail)
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78. To ask the Minister for Housing, Planning, and Local Government the funding he is providing for the first home scheme; and if he will make a statement on the matter. [36882/24]

Darragh O'Brien (Dublin Fingal, Fianna Fail)
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The First Home Scheme, which launched in July 2022, is a shared equity scheme, designed to help bridge the gap for eligible first-time buyers, eligible homebuyers, and self-builders, between their deposit and mortgage, and the price of their new home (within price ceilings established across the country). Full details are available on the First Home Scheme website.

The overall funding commitment for the First Home Scheme is €680 million. This committed funding comprises €340 million from my Department, and €340 million collectively from the participating mortgage lenders, i.e. a 50:50 division of funding.

The First Home Scheme Designated Activity Company is responsible for the operation and management of the First Home Scheme on behalf of its shareholders - the State, Allied Irish Bank, Bank of Ireland and Permanent TSB and, as such, is responsible for First Home Scheme reporting.

Quarterly and annual updates are made available on the First Home Scheme website.

My Department also publishes quarterly data on overall affordable housing provision, with the delivery figures for First Home broken down by Local Authority area available.

Thomas Gould (Cork North Central, Sinn Fein)
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79. To ask the Minister for Housing, Planning, and Local Government for an update on the operation of the mortgage-to-rent scheme; and whether a new private operator is to come in. [28579/24]

Darragh O'Brien (Dublin Fingal, Fianna Fail)
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The Mortgage to Rent (MTR) scheme is targeted at those households in mortgage arrears who have had their mortgage position deemed unsustainable by their lender under the Mortgage Arrears Resolution Process (MARP), and who have very limited options, if any, to meet their long-term housing needs themselves. One important eligibility criteria for the MTR scheme is that the household must be deemed eligible for social housing support.

To the end of June 2024, 2,464 households with unsustainable private mortgages had completed the MTR process. A total of 6,930 individuals are benefitting from the MTR scheme, which comprises of 3,867 adults and 3,063 children. A further 349 cases are being actively progressed though the scheme.

In 2023, my Department held an Expression of Interest (EOI) process seeking applications from both the private and Approved Housing Body (AHB) sector who could deliver the MTR Scheme at scale. On foot of this EOI process, my Department appointed 2 AHBs and 3 private companies as large-scale providers. The Department’s appointment of the new providers is valid for a period of three years. Notwithstanding this, it is important to note that the appointment of these large –scale providers within the MTR scheme does not prevent other AHBs from continuing their current involvement with MTR on a property-by-property basis.

MTR is a demand-led scheme and case completion rates are dependent on the level of borrower engagement with lenders. MTR cases from one of the new large-scale providers have been received by my Department and they are currently progressing through the MTR process. My Department is also aware that other cases are being prepared.

The Pilot scheme with the private MTR provider Home for Life, which had been in operation since 2018, was terminated from 25 May 2023 in anticipation of the EOI process being undertaken. However, the Department put in place arrangements which allowed Home for Life to continue processing all active MTR it had on hand on the 25 May 2023. These cases continue to be finalised.

Both the Programme for Government and Housing for All commit to strengthening the Mortgage to Rent scheme and ensuring that it is helping those who need it. Building on the significant amendments already made to the scheme in 2017, a 2021 Review of the Mortgage to Rent (MTR) scheme was undertaken and was published in January 2022. My Department is also considering the relevant parts of the report of the Mortgage Arrears Review Group, recently published by the Minister for Finance.