Richard Bruton
Question:190. Deputy Richard Bruton asked the Minister for Housing, Local Government and Heritage if he has considered extending the equity supports for affordable purchase beyond new homes [41978/23]
View answerThursday, 28 September 2023
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Housing for All delivers on the Programme for Government commitment to step up housing supply and put affordability at the heart of the housing system.
There are two equity schemes currently available to support the affordable purchase of homes to eligible applicants.
The First Home Scheme is operated by a Designated Activity Company (DAC), governed by a Board of Directors comprising representatives of the scheme funders, i.e. the State, AIB, Bank of Ireland, and Permanent TSB. As such, any expansion of the scheme would be a matter for consideration by the First Home Scheme DAC and its Board.
Under the Local Authority Affordable Purchase Scheme (LAAPS), affordable homes are made available by local authorities, with the focus on new-build homes in order to increase supply in those areas where affordable homes are needed most. LAAPS is governed by the Affordable Housing Act 2021 and its associated Regulations (S.I. 20/2023, and S.I. 21/2023).
Mortgages for second-hand properties are already available to eligible applicants through the Government-backed Local Authority Home Loan, details of which are available at www.localauthorityhomeloan.ie.
As Minister, I continue to consider all options that support innovation and the delivery of affordable homes under Housing for All.