Dáil Éireann Debate, Wednesday - 7 February 2007
349 Mr. Morgan asked the Minister for the Environment, Heritage and Local Government when the text of the Social Housing (Miscellaneous Provisions) Bill 2006 will be finalised; and the date on which the Bill will be published by his Department. [4216/07]
Amharc ar fhreagra
The Government have approved the drafting of the Social Housing (Miscellaneous Provisions) Bill 2006. The drafting of the Bill is being advanced as quickly as possible and it is expected that it will be published by early summer this year.
350 Mr. Noonan asked the Minister for the Environment, Heritage and Local Government if he will confirm that a local authority may not approve an applicant for affordable housing unless their home loan has been arranged with one of three financial institutions approved by his Department (details supplied); his views on whether this practice is unfair and anti-competitive; and if he will make a statement on the matter. [4263/07]
Amharc ar fhreagra
Following detailed discussions between my Department and a number of the main financial institutions, Bank of Ireland Mortgage Bank, the Educational Building Society and IIB Homeloans Ltd have introduced mortgage finance products for persons wishing to access affordable housing. The introduction of these products followed the finalisation of agreements between the institutions concerned and my Department in relation to certain issues, particularly the ranking of the various charges, including the claw-back charge, on affordable homes financed by private mortgages.
My Department has sought to encourage interest in providing mortgages for affordable housing from as many private institutions as possible. While I am pleased that there are now three such providers, I would welcome the entry of further private mortgage lenders into the market. My Department is committed to working pro-actively with prospective entrants to finalise the agreement that must be entered into with each provider of affordable housing mortgages.
I should point out also that, in certain circumstances, eligible affordable purchasers may seek to finance their affordable home purchase by way of loan finance from their local authority.
