I propose to take Questions Nos. 828 to 831, inclusive, together.
The income eligibility and loan limits for the Shared Ownership and 1999 Affordable Housing Schemes were reviewed and increased with effect from 1 January 2006. The maximum loan that can be advanced by local authorities for the acquisition or construction of a house irrespective of location increased to €185,000 while the income eligibility for a single income household increased to €40,000 and to €100,000 for a two-income household. The formula used in the case of a two-income household treats borrowers' incomes in much the same way as commercial lending agencies do when assessing loan affordability. This approach has operated effectively and equitably since its introduction and is designed to meet the needs of clients.
Those with incomes greater than the limits mentioned above may be eligible for affordable housing provided under Part V of the Planning and Development Act 2000-2004 or the Affordable Housing Initiative. Eligibility for these schemes is determined on the basis that a person's income is insufficient to meet the mortgage repayments on a house suitable to their needs. In addition, a number of commercial lending agencies provide mortgage finance for affordable applicants. These mortgages may be in excess of €185,000 where this is warranted. Accordingly, the housing needs of couples referred to in the Questions can be met through these schemes. I have no proposals to introduce changes to the loan and income limits but will continue to keep all aspects of both under review to ensure they are meeting the needs of prospective clients.
