asked the Minister for the Environment if he will introduce the necessary legislative changes or ministerial orders to facilitate would-be house purchasers in circumstances where both building societies and local authorities are willing to advance money to the prospective purchasers, but where the condition under which both lending agencies are obliged to possess the deeds of the house makes it impossible for the deal to go ahead; if he is aware of difficulties being experienced by prospective house purchasers in such circumstances; and the steps, if any, he proposes to take to end this undesirable situation.
Written Answers. - House Purchase.
125.
I am aware that some house purchasers have to meet their house purchase commitments by raising a second loan usually from a bank and often secured by a second mortgage on the property. Building societies and local authorities are precluded from making loans in this way. Apart from the Deputy's question, no representations seeking a change in the law have come to my notice. I am not convinced that it would be advisable to change the legal requirements as suggested and I do not intend to promote the necessary amendment of these requirements.