COMHAIRLE CONTAE ÁTHA CLIATH THEAS
SOUTH DUBLIN COUNTY COUNCIL

MEETING OF SOUTH DUBLIN COUNTY COUNCIL

Monday, March 09, 2009

QUESTION NO. 5

QUESTION: Councillor E. Tuffy

To ask the Manager if he will advise if any significant number of residents who purchased houses under the Part V Affordable Homes scheme and were granted mortgages/loans by the Council to finance their purchases have notified the Council that they are experiencing difficulties in keeping up their payments and if he will advise councillors of the approach of the Council to residents experiencing such difficulties?

REPLY:

This Council is currently developing a  strategy to work  with borrowers whose income has been significantly reduced, due to loss of employment or reduced hours, and are experiencing difficulty in meeting their mortgage re-payments. 

A number of borrowers , whose financial circumstances have changed have contacted the Loan Arrears Section.  These borrowers have been  advised  to contact  their local community welfare officer, who may be in a position to assist them  with  the interest portion of their monthly mortgage instalment. They are also advised to contact MABS, who can offer assistance and advice relating to managing finances.

 The Loan Accounts Section encourage borrowers who are encountering difficulty  with loan repayments to make contact with the loan arrears section as early as possible  so that a suitable arrangement  can be entered into at an early stage.  Once it has been identified that a borrower has begun to fall into arrears , contact is made with the borrower in an effort to provide  help with a  suitable solution or arrangement . Early intervention is the key to help with  the reduction of arrears. The Loan Arrears Section  offer support and guidance on how to address the arrears. This approach has been in place for a number of years and has worked very well.