Dáil Éireann Debate, Thursday - 21 January 2021
130. Deputy David Stanton asked the Minister for Housing, Local Government and Heritage the position of persons who have lost their first house due to bankruptcy in respect of the Rebuilding Ireland home loan scheme; and if an application for such persons who would otherwise meet all other required criteria would be accepted under the scheme; and if he will make a statement on the matter. [3044/21]
View answerIn general terms, a person who has been discharged from bankruptcy and is eligible in all other respects for a Rebuilding Ireland Home Loan, including being a first-time buyer, may apply for a loan and will be subject to the same credit assessment process that applies to all applicants. Applicants for the Rebuilding Ireland Home Loan must be of good credit standing; have a satisfactory credit record; and be a first time buyer, to be eligible.
The Housing Agency provides a central credit assessment service to local authorities and credit checks are undertaken as part of the credit assessment process. The final decision on loan approval is a matter for the relevant 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 prudence and consistency in approaches in the best interests of both borrowers and the lending local authorities.
