Dáil Éireann Debate, Friday - 7 September 2018
1371. Deputy Fiona O'Loughlin asked the Minister for Housing, Planning and Local Government the length of time applications for the Rebuilding Ireland home loan are taking to be processed by each county council; and if he will make a statement on the matter. [36280/18]
View answer1372. Deputy Fiona O'Loughlin asked the Minister for Housing, Planning and Local Government the way in which decisions are made in respect of the Rebuilding Ireland home loan. [36281/18]
View answer1373. Deputy Fiona O'Loughlin asked the Minister for Housing, Planning and Local Government the appeal process in respect of decisions from the Rebuilding Ireland home loan scheme; and if he will make a statement on the matter. [36285/18]
View answerI propose to take Questions Nos. 1371 to 1373, inclusive, together.
The new Rebuilding Ireland Home Loan is designed to enable credit-worthy first-time buyers to access sustainable mortgage lending to purchase new or second-hand properties in a suitable price range. The scheme is targeted at first-time buyers who have access to an adequate deposit and have the capacity to repay a mortgage, but who are unable to access a mortgage sufficient for them to purchase their first home.
The Housing Agency assesses applications for loans on behalf of the local authorities. However, the final decision on loan approval is a matter for each 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 Regulations establishing the scheme and the statutory credit policy issued under the Regulations and have regard to the recommendations of the Housing Agency in order to ensure consistency of treatment for all applicants.
Loan applicants who are dissatisfied with a loan application decision of a local authority Credit Committee may appeal that decision to the local authority. Details of the appeals process can be obtained from the relevant local authority.
I requested the Housing Agency to compile monthly statistical reports on the numbers of applications that it receives centrally from local authorities. These include the average length of time taken by the Agency to assess applications before returning them to the relevant local authority, which as of the end of August stands at 10 calendar days. Each local authority must undertake additional administration and processing of each application, including meeting with the applicant and allowing the Credit Committee to make their final decision, and the time taken for this additional work can vary across each local authority.
