Dáil Éireann Debate, Friday - 7 September 2018
1368. Deputy Joan Burton asked the Minister for Housing, Planning and Local Government the number of mortgage applications by local authority for the Rebuilding Ireland home loan; the number of loans issued; the average mortgage amount; the amount drawn down to date; and if he will make a statement on the matter. [36253/18]
View answerAs with the previous local authority home loan offerings, loan applications under the Rebuilding Ireland Home Loan are made directly to the local authority in whose area the property proposed for purchase is situated. My Department does not directly collect information on the number of loan applications received by each local authority.
However, as is currently the case, my Department will continue to publish information on the overall number and value of (i) local authority loan approvals and (ii) local authority loan drawdowns. Information up to Q4 2017 is available on the Department's website at the following link: http://www.housing.gov.ie/housing/statistics/house-prices-loans-and-profile-borrowers/local-authority-loan-activity, and this information will be updated on a quarterly basis as additional data is compiled.
In addition, the Housing Agency provides a central support service which assesses loan applications that are made to the local authorities and makes recommendations to the authorities as to whether loans should be offered to applicants. I have asked the Agency to centrally compile figures on the numbers of applications that it has assessed and the most recent figures, as at the end of August, indicate that the Agency had received a total of 2,628 applications for assessment from local authorities. The table below provides information on the geographical distribution of applications received centrally by them for assessment since the scheme began:
|
Region |
Feb-Apr |
May |
Jun |
Jul |
Aug |
Total |
|
Cork, Galway, Kildare, Louth, Meath and Wicklow |
359 |
182 |
193 |
131 |
126 |
991 |
|
Dublin |
407 |
214 |
161 |
115 |
91 |
988 |
|
Other |
230 |
107 |
110 |
111 |
91 |
649 |
|
Total |
996 |
503 |
464 |
357 |
308 |
2,628 |
Of the 2,628 applications received, 2,074 were deemed to be valid. Of these valid applications, 1,989 had been assessed and 1,024 of these (51%) had been recommended for approval. A breakdown by local authority of the 1,024 applications recommended for approval is set out in the table below.
|
Local Authority |
Approved Applications |
|
Dublin City Council |
149 |
|
Fingal County Council |
138 |
|
Meath County Council |
91 |
|
Cork County Council |
89 |
|
South Dublin County Council |
79 |
|
Kildare County Council |
60 |
|
Wicklow County Council |
41 |
|
Cork City Council |
35 |
|
Wexford County Council |
30 |
|
Galway County Council |
30 |
|
Dún Laoghaire-Rathdown County Council |
28 |
|
Laois County Council |
26 |
|
Kerry County Council |
25 |
|
Limerick City & County Council |
24 |
|
Galway City Council |
22 |
|
Louth County Council |
19 |
|
Tipperary County Council |
16 |
|
Sligo County Council |
15 |
|
Carlow County Council |
13 |
|
Clare County Council |
13 |
|
Longford County Council |
12 |
|
Donegal County Council |
12 |
|
Roscommon County Council |
11 |
|
Mayo County Council |
10 |
|
Westmeath County |
10 |
|
Kilkenny County Council |
9 |
|
Waterford City & County Council |
8 |
|
Offaly County Council |
6 |
|
Cavan County Council |
1 |
|
Monaghan County Council |
1 |
|
Leitrim County Council |
1 |
|
Total |
1024 |
The average loan amount across the 1,989 applications underwritten was €160,038.
Each local authority must have in place a credit committee and it is a matter for the committee to make the decision on applications for loans, in accordance with the regulations, having regard to the recommendations made by the Housing Agency.
