The Rebuilding Ireland Home Loan scheme was launched in February last year to replace the existing House Purchase and the Home Choice Loan schemes. Towards the end of the year I asked my Department to undertake a review of its operation.
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 also has 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 also takes 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 has been submitted to me and I am currently examining it with a view to publishing it shortly.