For those in Ireland seeking a council house mortgage or even just a place to rent, it may be some time before new properties are available. Although there is a huge shortage of these homes and waiting lists for council house mortgages are quite long, developers are focusing on more lucrative projects. The demand for council house mortgages and rentals is expected to climb as more people end up defaulting on their regular mortgages and losing their homes. Officials are scrambling to find a way to deal with this expected influx, as more than 3 million homes in the UK may be destined for foreclosure by the end of the year. However, from the looks of things, no new solutions may be available for some time.“If they’re buying their way out, they’re being let buy their way out,” said head of development David Burke. “Local authorities have to step up to the mark and not be pushed around.” Payments from developers have meant that it has taken local authorities much longer to find new housing schemes for the poor. “That slows the process of people being taken off the waiting lists,” said executive director Donal McManus.
Related reading: Council House Mortgages
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