Dáil Éireann Debate, Tuesday - 4 December 2018
689. Deputy Catherine Murphy asked the Minister for Housing, Planning and Local Government the drawdown on a local authority basis under the scheme for 2018 in respect of the Rebuilding Ireland home loan; the average amount borrowed nationally and locally; and if he will make a statement on the matter. [50110/18]
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 publishes 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.
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 and 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, a breakdown of which by local authority is set out in the following table.
|
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.
