Dáil Éireann Debate, Friday - 16 September 2016
580. Deputy John Brassil asked the Minister for Housing, Planning, Community and Local Government if he will examine and expand the council housing loan scheme, to include persons whom during the recession have lost their homes, as currently they are unable to avail of the council home loan scheme as they are not first-time buyers; and if he will make a statement on the matter. [24796/16]
Amharc ar fhreagraThe standard annuity mortgage available from local authorities is targeted at lower income first time buyers. The relevant terms and conditions applying to local authority housing loans, including eligibility terms, are set out in the Housing (Local Authority Loans) Regulations 2012, which are available at: http://www.irishstatutebook.ie/eli/2012/si/408/made/en/print.
To support local authorities in operating their housing loan schemes in a consistent and efficient manner, the Housing Agency provides a central underwriting service to local authorities. The credit underwriting process considers the impact that family circumstances may have on the loan applicant’s capacity to make loan repayments. The final decision on loan approval is a matter for the relevant local authority and its credit committee on a case-by-case basis and in accordance with the relevant statutory Credit Policy, that underpins the scheme and aims to ensure prudent lending.
I will continue to keep the operation of the local authority housing loan schemes under review. I have no immediate plans to amend the eligibility criteria set out in the Regulations.
