asked the Minister for Local Government whether he is aware that current applicants for building society loans are being informed that loans will not be made available to them for another four months; and if, having regard to the serious hardship caused to house purchasers as a consequence, he will take steps to relieve the situation.
Ceisteanna—Questions. Oral Answers. - Building Society Loans.
24.
I am not so aware. I am informed that, while the majority of the building societies are accepting new applications on a restricted basis only, their general situation has improved since last June, when various measures were taken by me to ensure that resources available for the financing of private housing were used to the best advantage. These measures, which included wider access to local authority house purchase loans through an increase in the income eligibility and maximum loan limits for such loans, reduced the effect of the temporary curtailment of the activities of the building societies.
Arising out of the Minister's reply, which is unbelievable, is the Minister not aware that any person who this week had his loan approved has been advised that the loan is being listed for payment subsequent to 31st January next? Is the Minister not further aware that people whose loans were approved as far back as last April have not yet received the money they were promised last April, and how can he in all conscience, if he has regard to the accuracy and truth of what he is saying, say the situation has improved?
Of course it has.
Are we then to accept that the Minister was telling untruths to this House from April until June when he said there was no crisis or does he regard it as normal that people have to wait over six months for accommodation to purchase houses?
If there are too many people for too little money, surely it is not an undue burden on them if they can be told that as at a certain date, their loan having been approved, they will be paid that amount.
After four or six months?
I am not saying whether it is four or six months. I am saying it is not unreasonable that, having had their loans approved, they are told the exact date on which they can have a cheque for the amount involved.
Is the Minister aware they are not being told the exact date? They are being told they are being listed for payment after a certain date. Having regard to the fact that the Government have cleaned out the banks and other institutions of all the available money, will they not use some of these funds for what should be a national priority, the housing of our people?
We are using more money on housing than was ever used in any other year in the history of the State.
Because of inflation.
Never mind about that.
Nero fiddling while the houses are falling down.
If the Deputy had a fiddle, he would fill the bill.