Dáil Éireann Debate, Wednesday - 11 May 2022
108. Deputy Patricia Ryan asked the Minister for Housing, Local Government and Heritage the number of applicants for Rebuilding Ireland home loans from County Kildare; the number that have been successful; the number that have been refused; and if he will make a statement on the matter. [23626/22]
View answerThe Local Authority Home Loan has only been available nationwide from local authorities since 4 January 2022. Prior to that, the Rebuilding Ireland Home Loan was the mortgage available from local authorities. As of 4 January 2022, no new Rebuilding Ireland Home Loan applications will be accepted, although applications/approvals already in process will be honoured. Therefore, information on both loan schemes is set out below.
The Housing Agency provides a central support service that assesses applications for the Rebuilding Ireland Home Loan, and its successor the Local Authority Home Loan scheme, on behalf of local authorities and makes recommendations to the authorities to approve or refuse applications. Data is collected separately for the Rebuilding Ireland Home Loan and the Local Authority Home Loan schemes.
Each local authority must have in place a credit committee and it is a matter for the committee to make the decision on applications for loans, in accordance with the Regulations establishing the scheme and the Credit Policy that under pins the scheme, having regard to the recommendations made by the Housing Agency.
The most recent figures provided by the Agency on the number of Rebuilding Ireland Home Loan and Local Authority Home Loan applications that it has underwritten for Kildare County Council from 2018 up to the end of February 2022 are set out in the below tables:
|
Rebuilding Ireland Home Loan |
|||
|
Year |
Applications Underwritten |
Applications Recommended for Approval |
Applications Recommended for Decline |
|
2018 |
173 |
87 |
86 |
|
2019 |
33 |
23 |
10 |
|
2020 |
126 |
53 |
73 |
|
2021 |
155 |
78 |
77 |
|
2022 (to 30/04/2022) |
13 |
5 |
8 |
|
Local Authority Home Loan |
|||
|
Year |
Applications Underwritten |
Applications Recommended for Approval |
Applications Recommended for Decline |
|
2022 (to 30/04/2022) |
30 |
12 |
18 |
My Department regularly publishes information on the number and value of (i) local authority loan approvals and (ii) local authority loan drawdowns. Local authority approval means that an official letter of offer has been sent to a borrower (and therefore relates to a specific property and loan amount).
Information on Local Authority drawdowns, approvals, average drawdowns, and average approvals to Q4 2021 is available at the following link, under the folder name 'Rebuilding Ireland Home Loan 2018 to date' which will be updated, as updated figures are available:
www.gov.ie/en/collection/42d2f-local-authority-loan-activity/#local-authority-loans-approvedpaid
As the Local Authority Home Loan is only for applications since 4 January, data on drawdowns is not yet available for this loan type. This link will be updated when information on the Local Authority Home Loan becomes available.
