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Local Authority Housing Mortgages

Dáil Éireann Debate, Tuesday - 28 November 2017

Tuesday, 28 November 2017

Questions (716, 717)

James Browne

Question:

716. Deputy James Browne asked the Minister for Housing, Planning and Local Government further to Question No. 497 of 14 November 2017, the definition of a satisfactory credit record; and if he will make a statement on the matter. [50257/17]

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James Browne

Question:

717. Deputy James Browne asked the Minister for Housing, Planning and Local Government further to Question No. 497 of 14 November 2017, if applicants for local authority mortgages who are discharged bankrupts come under the prohibited categories of those deemed bankrupt or are subject to bankruptcy; and if he will make a statement on the matter. [50258/17]

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Written answers (Question to Housing)

I propose to take Questions Nos. 716 and 717 together.

Applicants for local authority house purchase loans must be of good credit standing and have a satisfactory credit record.  The Housing Agency provides a central credit assessment service to local authorities and credit checks are undertaken as part of the credit assessment process.  The final decision on loan approval is a matter for the relevant local authority and its credit committee on a case-by-case basis. Decisions on all housing loan applications must be made in accordance with the statutory credit policy, that underpins the scheme, in order to ensure prudence and consistency in approaches in the best interests of both borrowers and the lending local authorities.

A person who has been discharged from bankruptcy and is eligible in all other respects for a local authority house purchase loan may apply for a loan and will be subject to the same credit assessment process that applies to all applicants.

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