Dáil Éireann Debate, Tuesday - 26 June 2018
592. Deputy Alan Farrell asked the Minister for Housing, Planning and Local Government the timeframe for the publication of the review of the Rebuilding Ireland home loan scheme; and if he will make a statement on the matter. [27649/18]
Amharc ar fhreagraFollowing the initial launch and roll-out of the Rebuilding Ireland Home Loan (RIHL) in February, I met with the Chief Executives of the two main agencies involved in the implementation of the Rebuilding Ireland Home Loan, the Housing Agency and the Housing Finance Agency, in April as part of my Department's ongoing oversight and monitoring of the new loan scheme and I requested that they address a number of issues to improve the operation of the scheme.
On foot of this engagement, some minor clarifying amendments have been made to the application form, while a number of additional FAQs have been added to the dedicated Rebuilding Ireland Home Loan website in order to further clarify issues for potential applicants. The online calculator on this website has also been amended in order to take the cost of mortgage protection insurance into account. This will therefore give potential applicants a clearer indication of the amount that they could be eligible to borrow under the scheme.
My Department will continue to monitor the uptake and responses to the loan scheme, clarifying any issues that arise, as necessary. I have not asked for a formal review of the scheme at this stage, nor do I believe that one is necessary, given the positive response to it to date. This is evident from the almost 1,500 loan applications submitted by local authorities to the Housing Agency, for assessment, as of the end of May.
