Under the Rebuilding Ireland Home Loan, single applicants applying for the loan must not be earning greater than €50,000 gross per annum and the combined income of joint applicants must not be greater than €75,000 gross per annum. This is to ensure the effective targeting of limited resources.
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. Housing Agency recommendations are then considered by the Credit Committee in each local authority, which issues loan approvals.
The final decision on loan approval is a matter for each local authority and its Credit Committee on a case-by-case basis. Decisions on all housing loan applications must be made in accordance with the statutory credit policy that underpins the scheme, in order to ensure consistency of treatment for all applicants.
Each local authority must have in place a Credit Committee and it is a matter for the Committee to make the final decision on applications for loans, in accordance with the regulations, and having regard to the recommendations made by the Housing Agency.
I have asked the Housing Agency how income such as in the situation of a retained firefighter is assessed. They have confirmed that it is possible for such income can be taken into account in the loan application process, although it depends on the specifics of each situation, in particular how long the applicant has been in the role.