Ballynacargy Labour man highlights imbalance between rent and mortgage costs
A member of the Ballynacargy Branch of the Labour Party highlighted the imbalance between the cost of rent and the cost of a mortgage with a motion he put forward at the party conference last week.
The event was at The Silver Springs Hotel in Cork city on the weekend of Friday March 24, and among the many topics petitioned and motioned by the different branches from around the country were housing, social care and environment.
The Longford Westmeath constituency was well represented by a number of motions, including one from Ballynacargy branch member Ancel Boyce (local area representative for the Moate Area), who put forward:
“The Ballynacargy Branch of the Labour Party requests that this conference calls upon the government to provide for the introduction of 100% mortgages to first time house purchasers or those building their own homes where there is documentary evidence available to prove that applicants have been paying rent for the previous two years without default, and to ensure that same is recognised by the lending institutions.”
Ancel added: “Average renting per annum is now €17,670, and over a 60-year period, a life of living in rented accommodation, that amounts to €1,060,200.”
He said the aim of his motion was to highlight the extraordinary payments people make in renting accommodation, and the reality that they could pay for their houses long before reaching €1m. In that case, he pointed out, people would have something concrete to show for their efforts.
It’s a central part of a campaign Ancel wants push in his constituency, and across the country.
“If I am fortunate to get elected in the future, one of the pillars I want to build upon is that of affordable housing for all,” he said.
“It would appear to be okay to pay on average around €1,447 per month on rent in Ireland, but when a mortgage is around the average of €1,020 a month, a bank won’t look at you – where is the sense in that?”
Cllr Johnnie Penrose seconded the motion at the conference. It was then included in the party mandate for review, and will eventually be put to government.