Dáil Éireann Debate, Thursday - 25 February 2021
127. Deputy Francis Noel Duffy asked the Minister for Housing, Local Government and Heritage if his Department will engage with a local authority (details supplied) to increase the loan amount administered as part of the Rebuilding Ireland home loan considering the current house prices in the area; and if he will make a statement on the matter. [10733/21]
View answerMy Department operates the Rebuilding Ireland Home Loan, which is targeted at first time buyers who wish to own their own home, have access to an adequate deposit and have the capacity to repay a mortgage, but who are unable to access a mortgage sufficient for them to purchase their first home.
With a Rebuilding Ireland Home Loan you can borrow up to 90% of the market value of a residential property. Maximum market values of the property that can be purchased or self-built are:
- €320,000 in the counties Cork, Dublin, Galway, Kildare, Louth, Meath and Wicklow, and
- €250,000 in the rest of the country.
This limits the amount that can be borrowed to no more than €288,000 in the counties Cork, Dublin, Galway, Kildare, Louth, Meath and Wicklow and no more than €225,000 in the rest of the country. There are no plans at present to change these limits.
The Programme for Government - Our Shared Future contains a commitment to expand the Rebuilding Ireland Home Loan.
