Bernard J. Durkan
Question:117 Mr. Durkan asked the Minister for the Environment the number of shared ownership loans now likely to be approved by local authorities before 31 December 1991; and if he will make a statement on the matter.
Written Answers. - Shared Ownership Loans.
Local authorities administering the shared ownership system are responsible for issuing approvals. The authorities were authorised last May to complete 1,000 shared ownership transactions, as part of a pilot programme, on the basis of interim arrangements devised by the Department with the benefit of expert legal advice. It is not possible at this stage to say how many transactions will be approved by local authorities by the end of the year. The interim arrangements provide an effective basis for allowing shared ownership transactions to proceed in advance of legislation. It is the intention to present the Housing Bill to the Dáil before the end of the current session.