Social Justice Ireland

Lobbying Organisation Social Justice Ireland

Date published 10 Jan, 2022

Relevant Matter Public policy or programme

Public Policy Area Housing

Period 1 Jan, 2022 to 30 Apr, 2022

Specific Details Made a submission on the need for the establishment of an equity scheme for borrowers in long-term mortgage arrears to Minister for Housing and Taoiseach.

Intended results To secure an equity scheme for borrowers in long-term mortgage arrears.

Name of person primarily responsible for lobbying on this activity Dr. Seán Healy

Did any Designated Public Official(DPO) or former Designated Public Official(DPO) carry out lobbying activities on your behalf in relation to this return? You must include yourself, and answer Yes, if you are a current DPO or a DPO at any time in the past. (What is a Designated Public Official?) No

Did you manage or direct a grassroots campaign? No

Was this lobbying done on behalf of a client? No

Mass communications

Email All Oireachtas Members We propose that you establish an application-based equity scheme to support borrowers in long term mortgage arrears. The State would provide funds to pay down a proportion of the borrower’s mortgage in exchange for equity in the mortgaged property. The borrower retains ownership of the property, the funds are paid off the mortgage, making the loan sustainable for the borrower, and the State has a subordinated charge. The Government is not averse to taking equity in private homes, as has been demonstrated by the Shared Equity provisions in the recently passed Affordable Housing Act, 2021. The problem is these schemes tend to favour those who need them least and artificially maintain high property prices. Our proposal would see the State use the Shared Equity model to support those who need it most to avoid homelessness.

Email All TDs We propose that you establish an application-based equity scheme to support borrowers in long term mortgage arrears. The State would provide funds to pay down a proportion of the borrower’s mortgage in exchange for equity in the mortgaged property. The borrower retains ownership of the property, the funds are paid off the mortgage, making the loan sustainable for the borrower, and the State has a subordinated charge. The Government is not averse to taking equity in private homes, as has been demonstrated by the Shared Equity provisions in the recently passed Affordable Housing Act, 2021. The problem is these schemes tend to favour those who need them least and artificially maintain high property prices. Our proposal would see the State use the Shared Equity model to support those who need it most to avoid homelessness.

Email All Senators We propose that you establish an application-based equity scheme to support borrowers in long term mortgage arrears. The State would provide funds to pay down a proportion of the borrower’s mortgage in exchange for equity in the mortgaged property. The borrower retains ownership of the property, the funds are paid off the mortgage, making the loan sustainable for the borrower, and the State has a subordinated charge. The Government is not averse to taking equity in private homes, as has been demonstrated by the Shared Equity provisions in the recently passed Affordable Housing Act, 2021. The problem is these schemes tend to favour those who need them least and artificially maintain high property prices. Our proposal would see the State use the Shared Equity model to support those who need it most to avoid homelessness.

Lobbying activity

The following activities occurred for this specific Subject Matter Area.

Email (2-5)

We propose that the Department establish an application-based equity scheme to support borrowers in long term mortgage arrears. The State would provide funds to pay down a proportion of the borrower’s mortgage in exchange for equity in the mortgaged property. The borrower retains ownership of the property, the funds are paid off the mortgage, making the loan sustainable for the borrower, and the State has a subordinated charge. The Government is not averse to taking equity in private homes, as has been demonstrated by the Shared Equity provisions in the recently passed Affordable Housing Act, 2021. The problem is these schemes tend to favour those who need them least and artificially maintain high property prices. Our proposal would see the State use the Shared Equity model to support those who need it most to avoid homelessness.

Designated public officials lobbied

The following DPOs were lobbied during this return period on this specific Subject Matter Area. These DPOs were involved in at least one of the Lobbying Activities listed above, but not necessarily all of them. As returns are specific to a Subject Matter Area the above Lobbying Activities may be associated with multiple returns.

Darragh O'Brien Minister (Department of Housing, Local Government and Heritage)

Micheál Martin An Taoiseach (Department of the Taoiseach)