James Browne
Ceist:639. Deputy James Browne asked the Minister for Housing, Planning and Local Government his plans to address the problems facing persons renting and-or sourcing loans post bankruptcy. [13967/18]
Amharc ar fhreagraTuesday, 27 March 2018
Ceisteanna (639)
Freagraí scríofa
The only home loan scheme available from the local authorities is the Rebuilding Ireland Home Loan which was launched in February this year, replacing the previous local authority home loan schemes. The new loan will enable credit-worthy first-time buyers to access sustainable mortgage lending to purchase new or second-hand properties in a suitable price range. The scheme is targeted at those unable to access a mortgage sufficient for them to purchase their first home. As with the previous local authority loan offerings, the Rebuilding Ireland Home Loan is available to first-time buyers only. There are terms and conditions which apply to the scheme, including income limits and limits on the value of the dwelling being purchased. Any person who meets the criteria and wishes to apply for a loan under the Scheme should apply to their local authority.
However, in relation to the Deputy's specific query, it should be noted that, under the credit policy issued in accordance with the Housing (Rebuilding Ireland Home Loans) Regulations 2018, there is a range of categories of people to whom the loan scheme is not available. These include people who are declared bankrupt or currently subject to bankruptcy proceedings who have been involved in a previous settlement which has resulted in a loss to a financial institution.
Where a person does not qualify for the Rebuilding Ireland Home Loan Scheme, they are entitled to apply to their local authority for assessment as to whether they qualify for, and are in need of, social housing support. In such instances, they should apply to the local authority for their area for an assessment.
I have also announced a package of measures in relation to developing an affordable purchase scheme and a cost rental scheme, the details of which I intend to finalise shortly.
Question No. 640 answered with Question No. 638.