Vol. 540 No. 1
358 Mr. Durkan asked the Minister for the Environment and Local Government the plans he has to increase the maximum amounts of annuity or shared ownership loans available for eligible applicants; and if he will make a statement on the matter. [20173/01]
Under the shared ownership scheme, applicants are required to purchase at least 40% of the value of the dwelling and to rent the remaining share from the local authority. The maximum loan which may be advanced by a local authority in respect of the share of the dwelling being purchased is £100,000. This enables an applicant to purchase a house considerably in excess of this value subject to their income being sufficient to meet the financial commitments involved. I have no proposals to increase this maximum limit at this stage but will continue to keep it under review.
