Dáil Éireann Debate, Thursday - 30 March 2023
132. Deputy Colm Burke asked the Minister for Finance if his Department intends to actively engage with lending institutions to communicate a clear set of lending policies in taking on a vacant or derelict property for the purposes of home ownership; and if he will make a statement on the matter. [15867/23]
View answer134. Deputy Colm Burke asked the Minister for Finance if his Department will engage with lending institutions for the purposes of designing a one-lender type product for the purposes of renovation of properties; and if he will make a statement on the matter. [15869/23]
View answer135. Deputy Colm Burke asked the Minister for Finance if his Department will engage with lending institutions for the purposes of considering green lending to assist in renovating units for residential use; and if he will make a statement on the matter. [15870/23]
View answerI propose to take Questions Nos. 132, 134 and 135 together.
Government policy on measures to promote the utilisation of vacant or derelict property for the purposes of home ownership is a matter for the Minister for Housing, Local Government and Heritage. As the Deputy is aware, his Department has put in place the Croí Cónnaithe scheme which can provide financial assistance to persons who wish to develop such a property for their own home.
In relation to the lending approach of banks and other Central Bank regulated entities, these are commercial entities and, therefore, subject to compliance with the legal and regulatory framework which governs the provision of credit to consumers, it is a business matter for the boards and managements of such entities to determine their own lending and associated policies, to design their own lending products and to make their own individual lending decisions.
While I support Government policies put in place to facilitate and encourage the development of derelict properties for residential purposes and to improve the energy ratings of our housing stock, it would not be appropriate for me, as Minister for Finance, to intervene to set lending policies or to influence individual lending decisions made by independent commercial entities.
Nevertheless, the Deputy should note that some lenders already offer lower mortgage rates where the loan is secured on houses with a high energy rating.
