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Mortgage Lending

Dáil Éireann Debate, Wednesday - 3 March 2021

Wednesday, 3 March 2021

Questions (235)

Robert Troy

Question:

235. Deputy Robert Troy asked the Minister for Public Expenditure and Reform when additional sections of the construction industry will reopen in view of the fact that many mortgage approvals will be due to expire in the coming weeks and mortgage providers seem to be unable or unwilling to extend approval periods. [11015/21]

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Written answers

As the Deputy is aware, the revised plan for the Government’s response to COVID-19 – "COVID-19 Resilience and Recovery 2021: The Path Ahead" – sets out our approach to the next phase and our path forward. The plan sets out the Government's approach of making steady progress in re-opening our economy, starting with childcare and schools, while avoiding a further wave of the disease and re-imposition of restrictions.

In this overall context, public health advice is that, at present, it is too early to say how and when other restrictions should be eased given current uncertainties. The current public health measures will remain in place until 5th April. Government will meet in advance of that date to review the level of restrictions. Areas for consideration, if the situation improves sufficiently, will include a staggered start of easing of other areas of activity with a focus on outdoor activities, including some areas of construction.

Regarding the issue of mortgage approvals and the regulations that underpin this policy area, these are the responsibility of my colleague, the Minister for Finance who I am sure will be in a position to provide information in this regard.

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