COMHAIRLE CONTAE ÁTHA CLIATH THEAS
SOUTH DUBLIN COUNTY COUNCIL

MEETING OF SOUTH DUBLIN COUNTY COUNCIL

Monday, June 11, 2012

MOTION NO.  4

MOTION: Councillor M. Devine

That the Manager report on Shared Ownership Mortgages with reference to those who are in arrears and in danger of losing their homes. Furthermore that this Council consider those who give up their homes or have them repossesed to remain in their home as Council Tenants.

REPORT:

The Council has 138 live Shared Ownership Loans with borrowers and has or is about to commence legal action on 9 (6.5%) of these accounts. The Council will continue to engage and work closely with all borrowers to address their arrears.   

South Dublin County Council has a policy of early intervention for mortgage accounts that fall into arrears. The Council is committed to working with our customers who are currently experiencing financial problems, or feel they may soon experience problems with their mortgage repayments. South Dublin County Council has a dedicated mortgage arrears section who will work with our customers and those experiencing difficulties are encouraged to contact the staff for assistance and advice particularly with a view to making necessary arrangements that is suitable to both the customer and the Council. The Council currently assists 37 Shared ownership borrowers with their repayments through the income subsidy scheme and each case is dealt with confidentially on an individual basis.

Please note that where customers continually do not make payments on their account; or continually breaking agreed arrangements; or do not co-operateor engage with the Council only then will legal proceedings be commenced.

 Where repossession does occur, the borrowers are given the option to go on the Council’s housing list (subject to the conditions under the Allocations Scheme).  At present there is no mechanism available to the Council to allow the borrowers to remain in the property after the repossession for non-payment of their mortgage takes place.