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Home Loan Scheme

Dáil Éireann Debate, Wednesday - 7 November 2018

Wednesday, 7 November 2018

Questions (181)

Eoin Ó Broin

Question:

181. Deputy Eoin Ó Broin asked the Minister for Housing, Planning and Local Government the number of Rebuilding Ireland home loan applications by local authority area to date in 2018; the number of approvals and drawdowns, respectively, by local authority area; the average loan amount awarded in each local authority area in tabular form; and if he will make a statement on the matter. [46005/18]

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Written answers

As 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 Q2 2018 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 recommended for approval; the most recent figures, as at the end of October, indicate that the Agency had recommended a total of 1,317 applications for approval since the scheme launched.

Local Authority

Recommended to Approve

Carlow County Council

15

Cavan County Council

2

Clare County Council

18

Cork City Council

43

Cork County Council

104

Donegal County Council

17

Dublin City Council

189

Dún Laoghaire - Rathdown County Council

38

Fingal County Council

185

Galway City Council

26

Galway County Council

36

Kerry County Council

35

Kildare County Council

85

Kilkenny County Council

13

Laois County Council

32

Leitrim County Council

2

Limerick City & County Council

38

Longford County Council

14

Louth County Council

22

Mayo County Council

15

Meath County Council

109

Monaghan County Council

3

Offaly County Council

12

Roscommon County Council

12

Sligo County Council

17

South Dublin County Council

92

Tipperary County Council

25

Waterford City & County Council

11

Westmeath County Council

12

Wexford County Council

39

Wicklow County Council

56

Total

1,317

The average loan amount requested to date is €158,433. The average loan amount recommended for approval where the maximum borrowing is €288,000 is €207,927. The average loan amount recommended for approval where the maximum borrowing is €225,000 is €131,493.

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.

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