KENNY URGES COMPLETION OF TENANT PURCHASE APPLICATIONS

Posted on November 14, 2012 4:27 PM   |   Permanent Link   

Dublin Bay North TD, Seán Kenny, has urged tenants to complete any tenant purchase applications that they may have in progress.

"The 1995 Tenant Purchase scheme has enabled 10,000 families to purchase their own home over the past 10 years. However, since 2008 applications to the scheme have dwindled significantly, with just 195 purchases made nationwide in 2010. This fall off in applications presents the Government with an opportunity to reform tenant purchase and introduce a more progressive system, without interfering with the plans of hundreds of families.

"With that goal in mind Minister O'Sullivan is bringing the current Tenant Purchase Scheme to a close on 31st December next. That is the final date for submitting applications under the scheme and housing authorities will have a year in which to finalise sales after that. Applications to the scheme will not be accepted after the 31st December, and so I would advise any tenants with applications in progress to ensure they are completed by that date.

"The Minister will then be announcing significant reform regarding tenant purchase. I understand that the Minister intends to extend the scope of the 'Incremental Purchase Scheme' to replace the current tenant purchase model. One of the advantages of the Incremental Purchase Scheme is that discounts are related to family income, rather than length of tenure as is the current system.

"The Incremental Purchase Scheme also incentivises families to remain in their community following the purchase. It intends to extend the terms of the Incremental Purchase Scheme to all housing authority stock, not just new houses as is currently the case. These important changes will be introduced in the forthcoming Housing Bill, which I expect to publish in 2013."