Dáil Éireann Debate, Thursday - 21 February 2019
212. Deputy Aindrias Moynihan asked the Minister for Housing, Planning and Local Government the status of the review into the Rebuilding Ireland home loan scheme; and if he will make a statement on the matter. [8908/19]
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 asked my Department to undertake a review of the operation of the scheme, including any requirements to update the Credit Policy. In carrying out the review, the Department has consulted with a number of local authorities, the Housing Agency and the Housing Finance Agency. The review will also have regard to the views raised by public representatives since the scheme's commencement. However, in making any recommendations in relation to the operation of the scheme, it will 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.
The review is at an advanced stage and is due to be finalised shortly.
