Dáil Éireann Debate, Wednesday - 21 October 2020
111. Deputy Eoin Ó Broin asked the Minister for Housing, Local Government and Heritage the number of Rebuilding Ireland home loan applications; and the number approved and drawn down in each quarter of 2020. [31919/20]
View answer112. Deputy Eoin Ó Broin asked the Minister for Housing, Local Government and Heritage the average Rebuilding Ireland home loan amount that was drawn down in Dublin and outside of Dublin, respectively in each quarter of 2020. [31920/20]
View answerI propose to take Questions Nos. 111 and 112 together.
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).
My Department has issued data requests for the first two quarters of 2020 and figures for these quarters will be made available in due course at the following link:
https://www.housing.gov.ie/housing/statistics/house-prices-loans-and-profile-borrowers/local-authority-loan-activity
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 have asked the Agency to compile figures on the numbers of applications that it has assessed and recommended to approve in 2020. To September 2020, the Housing Agency have assessed 1,084 valid applications. Of these, it has recommended 495 for approval.
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.
