Home Loan Scheme

Friday, 6 September 2019

Questions (2011)

Catherine Connolly

Question:

2011. Deputy Catherine Connolly asked the Minister for Housing, Planning and Local Government the number of applications received, approved and refused under the Rebuilding Ireland home loan scheme by Galway city and county; the average processing time of applications; the average value of loans approved; and if he will make a statement on the matter. [36937/19]

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Written answers

Minister for Housing, Planning and Local Government

The Housing Agency provides a central support service which assesses applications for the Rebuilding Ireland Home Loan on behalf of local authorities and makes recommendations to the authorities to approve or refuse applications.

I have asked the Agency to compile figures on the numbers of applications that it has assessed, recommended to approve and recommended to decline since the scheme began for both Galway City and Galway County Council. The most recent figures, as at the end of August 2019, are set out in the following table -

Local Authority	Applications Assessed	Recommended to Approve	Recommended to Decline
Galway City Council	102	55	47
Galway County Council	168	60	108

For Quarter 1 2019, the average values of loans approved by Galway City Council and Galway County Council were €184,840 and €152,421, respectively.

Processing of a complete and valid application takes approximately six to eight weeks. 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.