This morning.
Dublin Castle, Dublin 2.
Nattily-dressed Housing Minister James Corden Darragh O’Brien arrives for a cabinet meeting to sign off on changes to the mortgage to rent scheme (where a ‘social landlord’ buys your home allowing you to stay as a tenant and complete mortgage payments to the council or housing association). To wit:
Mortgage to Rent provides a solution to a complex problem by giving a person or family the option of remaining in their own home despite acute mortgage difficulties – easing some of the undoubtedly massive stress which people face. #HousingforAll pic.twitter.com/peNxqUJ0jE
— Darragh O’Brien (@DarraghOBrienTD) January 25, 2022
Yesterday: Keeping The Roof
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…what?
Never trust a man who wears a scarf like that it’s all just so fey,
The original MTR scheme worked perfectly, fairly and transparently for years until Eoghan Murphy became housing minister
Now – for anyone to participate in a mortgage to rent solution, they have to surrender the property to the creditor bank first
then it goes out to tender to the AHBs – the tender managed by The Housing Agency
and the cost to the AHB isn’t known until the sale competes which could be anywhere between a year and 3 years
with valuations (*3 no) every 6 months or so
If you want an example of how effed up this is
KBC plc agreed to allow a Housing Coop purchase a property for 130K from a family who they were going to leave in the property, and pay differential rent
3 year later, the sale completed at Market Value on the day
248K
If you want to make some inroads into getting a working Social Housing infrastructure
Disband and liquidate The Housing Agency
* The Housing Agency, The Bank and the Local Authority Housing Division – so than can keep approving the purchase as suitable for Social Housing by the purchasing AHB
….irish people voted for FF expecting one thing,
Homes.
They failed,no amount Mickey Mouse announcements of dreams and schemes,notwithstanding the lovely scarf draped rakishly will change that.