“104 Mortgage To Rent deals in three years is a disgrace,” McGrath

housing

08-07-2015

Independent TD Mattie McGrath has heavily criticised the Minister for the Environment Alan Kelly for what he has termed the Minister’s disastrous stewardship of the Governments Mortgage to Rent Scheme. The scheme exists to enable a local authority to acquire ownership of properties with unsustainable local authority mortgages, thus enabling the household to remain in their home as a social housing tenant:

“The numbers that I have had confirmed via my Parliamentary Question on this issue are absolutely obscene. .

That is the only term that can be used for the outcome of a Scheme that has been continuously touted by this Government as a key legislative element of their strategy to address the mortgage and social housing crisis.  

The numbers speak once again to the utter inability of Minister Kelly to match his windy rhetoric with effective action.

In Tipperary alone there has only been a pathetic 3 approvals for the Scheme in three years. One a year is a dreadful statistic by any reckoning.

In every other county with the exception of Dublin and Louth the numbers of approvals are in single digits for the time period in question.

Since the scheme began in June 2012 to end June 2015, 104 mortgage to rent transactions have negotiations completed.

In total, 2,922 cases have been put forward for the scheme by lending institutions, of which 2,107 cases were deemed ineligible or terminated during the process.

These numbers would leave even the most ardent supporter of Government incredulous about the future viability of the Scheme as it is currently constructed.

Minister Kelly needs to tone down the bravado and the macho man image and set his hand to producing actual results that work for real people instead of for the advancement of his own political ambition,” concluded Deputy McGrath.

ENDS

 

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