Dara Calleary
Question:529. Deputy Dara Calleary asked the Minister for Housing, Local Government and Heritage if a person can apply for the local authority home loan if ground works have already started. [40330/23]
View answerWednesday, 20 September 2023
Questions (529)
Written answers
The 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.Applications for a Local Authority Home Loan for the purposes of funding a self-build property will only be considered in circumstances where the security property in question is a new construction, i.e. properties that are part-built or otherwise commenced at the time of making a Local Authority Home Loan application will not be eligible for consideration.The final decision on loan approval is a matter for each local authority and its Credit Committee on a case-by-case basis. Decisions on all housing loan applications must be made in accordance with the statutory credit policy that underpins the scheme, in order to ensure consistency of treatment for all applicants. Loan applicants who are dissatisfied with a loan application decision of a local authority Credit Committee may appeal that decision to the local authority. Each local authority will have an appeals procedure to allow dissatisfied applicant(s) to appeal a loan application decision of the Credit Committee.