Dáil Éireann Debate, Tuesday - 11 July 2023
404. Deputy Thomas Gould asked the Minister for Housing, Local Government and Heritage the total number of applicants for Rebuilding Ireland home loans or local authority home loans from Cork; the total number that have been successful; the total number that have been refused; and if he will make a statement on the matter. [34072/23]
View answerThe Local Authority Home Loan is a Government-backed mortgage for creditworthy applicants who cannot get sufficient funding from commercial banks to purchase or build a home. It has been available nationwide from local authorities since 4 January 2022 for first-time buyers and fresh start applicants. The loan can be used both for new and second-hand properties, or to self-build.
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 drawdowns, approvals, average drawdowns, and average approvals for the Local Authority Home Loan and the Rebuilding Ireland Home Loan up to Q3 2022 is available on my Department’s website at the following link, which will be updated as soon as figures are available:
www.gov.ie/en/collection/42d2f-local-authority-loan-activity/#local-authority-loans-approvedpaid
