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Annual Report of the Ombudsman 2004

Chapter 4 - Insurance Protection for Local Authority Mortgage Holders

Insurance Protection for Local Authority Mortgage Holders

In its 2000 and 2001 annual reports my Office commented on the lack of insurance protection for local authority mortgage holders who took out their loans prior to 1 July 1986. Since then, my Office has been in regular contact with the Department of the Environment, Heritage and Local Government on the matter. Considerable work has been undertaken by the Department and I am pleased to note that a new Mortgage Protection Plan for all eligible local authority pre-1986 borrowers became operational on 1 January 2004.

In effect this means that, subject to certain age and health eligibility criteria, all local authority mortgage holders, including those who took out their mortgages prior to 1 July 1986, are now automatically included in the new scheme with effect from 1 January 2004.

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