Plans to allow people with mortgage debt to rent their properties set to be fast-tracked

Plans to allow people with mortgage debt to rent their properties set to be fast-tracked

Plans to allow people with massive mortgage debt to rent their properties are set to be fast-tracked into law, according to new Housing Minister Jan O’Sullivan.

The Limerick-based TD said the move was a key priority for her now that she has succeeded Willie Penrose in the role.

The scheme would see hard-hit home owners allowed to stay in their current apartment or house, but pay rent to the local authority instead of a bank or building society.

“If there is no possibility of people being able to continue to pay a mortgage they can come in under a local authority system but stay in their own homes. 

”We have to be creative about how we approach this,” she told RTÉ.

Ms O’Sullivan also dismissed as “scare-mongering” reports that the Government was considering a swingeing range of new cuts. 
She said a report by the Government’s central expenditure and evaluation unit, which contained ideas such as abolishing the early childhood care scheme and the disadvantaged areas scheme, had been discussed as part of the pre-budget negotiations and were no longer on the table.

“That was considered in advance of the budget and we had the decisions we had,” she said, adding that it was ‘scare-mongering’ to claim the suggestions would still be imposed this year.

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