Dáil Éireann Debate, Tuesday - 27 January 2015
554. Deputy Michael McGrath asked the Minister for the Environment, Community and Local Government the legal basis for the HomeBond scheme; his views on the role of the State in the matter; his further views on the way the scheme is operating; and if he will make a statement on the matter. [3841/15]
Amharc ar fhreagraHomeBond is a private limited company providing structural guarantees for new houses and, since November 2008, the HomeBond Insurance scheme is underwritten by Allianz Insurance. As is the case for any private company, its operations are a matter for its management and Board of Directors. My Department understands that HomeBond Insurance Services Ltd. is regulated by the Central Bank of Ireland. As it is a private company, my Department has no role or function in its operations.
I understand that HomeBond is operated by the National House Building Guarantee Company which is a private company established in 1978 by the Irish Home Builders Association and the Construction Industry Federation. My Department supported the establishment by the industry of a guarantee scheme to protect purchasers of newly built houses and, up to early 2004, participated at Board meetings in a non-voting observer capacity.
On foot of the establishment of HomeBond, to ensure national coverage of the guarantee scheme and to facilitate an independent assessment of construction standards, inspectors, already engaged by my Department for grant-related work, carried out inspections on a fee basis on houses registered, up to the end of 2003, with the scheme outside the Dublin area. The costs of these inspections were recouped by HomeBond to the Department.
