Dáil Éireann Debate, Tuesday - 26 July 2022
725. Deputy Jennifer Whitmore asked the Minister for Housing, Local Government and Heritage the options that are available for individuals that are unable to qualify for the shared equity scheme due to a previous bankruptcy process which now classifies them as second-time buyers requiring a deposit of 20%; if these individuals can be exempt in order for them to access the scheme; and if he will make a statement on the matter. [41069/22]
View answerThe full details of the First Home Scheme, including in relation to eligibility, are available on the companies website at: www.firsthomescheme.ie.
In relation to previous homeowners, page 6 of the First Home Scheme brochure confirms eligibility to apply for the First Home Scheme, “If you have sold (or divested of) that property as part of a personal insolvency or bankruptcy arrangement, or other legal process as a consequence of insolvency.”
Macro-prudential policy, which governs mortgage policy in Ireland, is set by the Central Bank of Ireland, which is an independent body. It sets limits on mortgage size that consumers can borrow through the use of loan-to-value (LTV) and loan-to-income (LTI) limits. Further information is available at the following link:
www.centralbank.ie/financial-system/financial-stability/macro-prudential-policy/mortgage-measures.
