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.
I asked the Agency to compile figures on the numbers of valid applications that it has assessed and recommended for approval for Cork City Council and Cork County Council since the scheme begun. From 1 February 2018 to the end of November 2019, the Housing Agency assessed 229 applications in Cork City and of these, it recommended 78 for approval. The Housing Agency assessed 432 applications in Cork County from 1 February 2018 to the end of November 2019, and of these 217 were recommended for approval.
My Department publishes information on the overall number and value of (i) local authority loan approvals and (ii) local authority loan drawdowns. Local authority approval means that an official letter of offer has been sent to a borrower (and therefore relates to a specific property and loan amount). Information for Quarters 1 and 2 2019, including in relation to the number and value of mortgage drawdowns, is available on my Department's website at the following link: