Dáil Éireann debate -
Tuesday, 27 Jun 2000

Vol. 522 No. 2

Written Answers. - Mortgage Funding.

Brendan Howlin

Question:

311 Mr. Howlin asked the Minister for the Environment and Local Government if a mortgage is deemed to be created only when mortgage funding is drawn down having regard to the increase in £9,000 in the subsidy for local authority tenants who surrender a dwelling house and create a mortgage for new property on or after 15 June 2000; and if he will make a statement on the matter. [18296/00]

Minister of State at the Department of the Environment and Local Government (Mr. Molloy)

A mortgage is considered to have been effected as and from the date of the full or partial drawing down of the loan approved for the purchase or construction of a house.