asked the Minister for Lands if a farmer who borrowed £40 from the Land Commission about 25 years ago for the purpose of building a house, and who was repaying the amount with his annuity, ceases to make any payment on this account when he has the £40, with interest, repaid; and, if not, how much he is required to pay before repayment ceases.
Ceisteanna—Questions. Oral Answers. - Repayment of Housing Loan.
64.
The position in these cases is that the annuity set up in repayment of a housing advance is consolidated with the annuity on the applicant's holding and the consolidated annuity is payable until both advances are repaid. When repayment of the advance for the holding has been completed, the annuity applicable thereto continues to be payable but it is applied in full as extra sinking fund to expedite amortisation of the housing advance. The Deputy will appreciate, therefore, that as the circumstances vary with each individual case, depending on the position regarding the applicant's holding, it is not possible to reply to his hypothetical question. If, however, a landowner is concerned about his specific case, I would suggest that he furnish particulars to the Land Commission who will advise him of the position in the matter.