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Housing Policy

Dáil Éireann Debate, Wednesday - 21 April 2021

Wednesday, 21 April 2021

Questions (806, 825)

Seán Haughey

Question:

806. Deputy Seán Haughey asked the Minister for Housing, Local Government and Heritage if he will increase the income limits for eligibility for the Rebuilding Ireland home loan scheme; and if he will make a statement on the matter. [20445/21]

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Richard Bruton

Question:

825. Deputy Richard Bruton asked the Minister for Housing, Local Government and Heritage if he plans to increase the income threshold on Rebuilding Ireland home loans in view of the difficulty for those earning over € 50,000 to €75,000 purchasing with bank mortgages. [20766/21]

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Written answers

I propose to take Questions Nos. 806 and 825 together.

Single applicants for the Rebulding Ireland Home Loan must not be earning greater than €50,000 gross per annum. The combined income of joint applicants must not be greater than €75,000 gross per annum. 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. These income limits are unchanged from the previous local authority loan offerings.

The Programme for Government "Our Shared Future" contains a commitment to expand the Rebuilding Ireland Home Loan and work to review its operation is in train.

Question No. 807 answered with Question No. 751.
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