Mortgage Lending

Dáil Éireann Debate, Wednesday - 15 April 2015

Wednesday, 15 April 2015

Ceisteanna (797)

Éamon Ó Cuív

Ceist:

797. Deputy Éamon Ó Cuív asked the Minister for the Environment, Community and Local Government in relation to the new limits for mortgages for residential dwelling units, if he will outline the limits for new mortgages for first-time buyers and for those trading up; if he will indicate the rationale for two categories; the exceptions which are allowed for those who previously had a mortgage, but wish to be classified as a first-time buyer; if owner occupiers who purchased homes at a location (details supplied) in Dublin 13 and lost their savings and-or deposits in that development have been refused the classification of the first-time buyer, as regards higher mortgages; in view of the difficulties experienced in this case, if he will instruct that previous owners of homes at the location be treated as first-time buyers; and if he will make a statement on the matter. [14538/15]

Freagraí scríofa

Minister of State at the Department of the Environment, Community and Local Government

I have no functional responsibility regarding the Central Bank regulations and its new limits for mortgages for residential dwelling units. In relation to the specific circumstances in relation to Priory Hall residents, the Priory Hall Resolution Framework Agreement sets out the conditions under which owner occupiers wishing to purchase a new home may secure a new mortgage from their respective banks. The banks and former Priory Hall residents are parties to this Agreement. Any arrangements that may be agreed between an individual homeowner and their mortgage provider is a matter between those parties.