Dáil Éireann Debate, Wednesday - 10 March 2021
387. Deputy Bríd Smith asked the Minister for Housing, Local Government and Heritage if the Rebuilding Ireland home loan scheme is open to applicants who work less than 20 hours per week or are lone parents and in receipt of the one parent family payment. [12885/21]
View answer388. Deputy Bríd Smith asked the Minister for Housing, Local Government and Heritage if a person can apply for both the Rebuilding Ireland home loan scheme and the enhanced help-to-buy scheme; and if he will make a statement on the matter. [12886/21]
View answerI propose to take Questions Nos. 387 and 388 together.
Those who are currently in receipt of the One Parent Family Payment are not precluded from applying for the Rebuilding Ireland Home Loan however they must meet all other eligibility criteria for the scheme.
There are no set minimum income limits; however, applicants do need to have sufficient borrowing and repayment capacity and must be capable of repaying the mortgage in accordance with the statutory credit policy underpinning the loan. Applicants must also be of good credit standing; and have a satisfactory credit record.
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.
For prospective purchasers of newly-built properties, the availability, through the Revenue Commissioners, of the Help to Buy Initiative for first-time buyers may provide additional assistance to prospective applicants for the Rebuilding Ireland Home Loan.
