Dáil Éireann Debate, Tuesday - 24 November 2009
460 Deputy Bernard J. Durkan asked the Minister for the Environment, Heritage and Local Government the full extent of funds available to local authorities by way of the local loans fund to facilitate applicants for home choice or other local authority loans including those available under the 1966 Act; when it is expected that funding will be restored to local authorities for such purposes; and if he will make a statement on the matter. [43385/09]
Amharc ar fhreagraNo funding restrictions have been placed on local authority lending for house purchase. Annual allocations to local authorities for House Purchase and House Improvement lending totalling almost €31m were notified to local authorities in July, an increase of €9m (or 40%) on the 2008 allocation of almost €22m. It is important to note that these allocations represent borrowings ceilings rather than financial provisions. Since the allocations were made, a further €2m has been allocated to those local authorities who sought increased lending capacity for 2009. No set borrowing limit has been put in place for the Home Choice Loan scheme.
