asked the Minister for Local Government whether he has received representations from applicants for, or recipients of, county council loans in the Longford area, to the effect that, with the recent increase in the rate of interest to 3¾ per cent., a 50 years' period for repayment would be more equitable; whether he is aware that the present interest payment plus council fees, rates and ground rent would total, for some borrowers, 30/-a week in comparison with means of 130/- a week; and, if so, whether he will arrange for a more equitable system of payment.
Ceisteanna—Questions. Oral Answers. - Local Loans Interest Rates.
Mr. Murphy
Representations have been received on behalf of one or two borrowers in the Longford area that the maximum repayment period for loans advanced under the Small Dwellings (Acquisition) Acts by a housing authority to individual borrowers should be extended to 50 years. It is not proposed, however, to extend the present repayment period.