Dáil Éireann Debate, Tuesday - 15 January 2019
97. Deputy Aindrias Moynihan asked the Minister for Housing, Planning and Local Government if the eligibility criteria for the Rebuilding Ireland home loan will be reviewed; and if he will make a statement on the matter. [1468/19]
View answerThe Rebuilding Ireland Home Loan scheme was launched in February to replace the existing House Purchase and the Home Choice Loan schemes. It has been established under the Housing (Rebuilding Ireland Home Loan) Regulations 2018, which also provide for the issuance of a statutory Credit Policy. The purpose of the Credit Policy is to set out in more detail the eligibility criteria for obtaining a loan and procedures to be followed by local authorities in considering loan applications.
In order to assist the on-going administration of the Rebuilding Ireland Home Loan, I have asked my Department to undertake a review of the operation of the scheme, which is due to be finalised shortly. It will have regard to the views of local authorities, the Housing Agency, and the Housing Finance Agency, and will also take account of the issues raised by public representatives since the scheme's commencement.
This review will incorporate an examination of queries that have been raised concerning the Credit Policy and the corresponding eligibility criteria. However, in making any recommendations in relation to the operation of the scheme, it must also take account of the need to ensure that lending issued under it is provided on a prudential basis, so as to protect the financial interests of the borrowers and the local authorities.
