Dáil Éireann Debate, Tuesday - 17 April 2018
1536. Deputy Mick Wallace asked the Minister for Housing, Planning and Local Government the eligibility conditions that apply for separated or divorced applicants for the Rebuilding Ireland home loan scheme according to the credit policy 2018; and if the same credit policy applies across all local authorities. [15448/18]
Amharc ar fhreagra1605. Deputy Micheál Martin asked the Minister for Housing, Planning and Local Government his plans for the Rebuilding Ireland home loan scheme's criteria to be altered or extended to allow applications from those who are not seen as first-time buyers due to having previously purchased a home, but due to separation or divorce have no entitlement to the first house and who have a housing need; and if he will make a statement on the matter. [16349/18]
Amharc ar fhreagraI propose to take Questions Nos. 1536 and 1605 together.
As with the previous local authority loan offerings, the Rebuilding Ireland Home Loan is available to first-time buyers only. There is no change to this regard. This is to ensure the effective targeting of limited resources.
Applicants who are separated or divorced may be treated as first-time buyers if they meet certain conditions, including:
- They are separated or divorced under a court order or by a separation agreement;
- The property being purchased is the first property since leaving the family home;
- They have left the family home and retain no interest in it; or
- The other party has remained in the family home.
The option currently available for non-first-time buyers is to seek home loan facilities from one of the commercial lending institutions.
Detailed information on the new mortgage is available on the dedicated www.rebuildingirelandhomeloan.ie website, or directly from local authorities.
Regarding the credit policy, the Rebuilding Ireland Home Loan Credit Policy 2018 has been in operation since 1 February 2018. This document replaces the previous Credit Policy issued under Circular HPS 4/2009. The revised credit policy provides written guidance for all local authorities for the processing of loan applications and the making of loans under the Housing (Rebuilding Ireland Home Loans) Regulations 2018, which sets out the regulatory framework for the new Scheme.
