Vol. 572 No. 1
184 Ms Shortall asked the Minister for the Environment Heritage and Local Government if his Department allows local authorities to vary the maximum annuity loan under the affordable housing scheme; if a maximum is stipulated by his Department; the details of same; and if he will make a statement on the matter. [22560/03]
185 Ms Shortall asked the Minister for the Environment Heritage and Local Government if he will take measures to address the discrepancy in Dublin whereby the maximum possible loan to an applicant under the affordable housing scheme amounts to substantially less than the typical cost of the home to the applicant and virtually all applicants must apply for affordable housing under the shared ownership scheme; if his attention has been drawn to the fact that many applicants in this scenario would prefer to use the annuity loan instead; the reasons the annuity loan is pitched so low; and if he will make a statement on the matter. [22561/03]
I propose to take Questions Nos. 184 and 185 together.
Under the 1999 affordable housing scheme a loan limit of €130,000 applies. My Department is keeping the terms of the loan limit under review, taking into account the movement in house prices, the effectiveness of various schemes in meeting the needs of the relevant target group and the availability of mortgage finance in the private sector. The Department is examining the issues in relation to the provision of such finance by the institutions and consultations have taken place with a number of local authorities and representatives from the Irish Mortgage Council.
