Home Loan Scheme

Dáil Éireann Debate, Tuesday - 11 June 2019

Tuesday, 11 June 2019

Ceisteanna (991)

Mary Butler

Ceist:

991. Deputy Mary Butler asked the Minister for Housing, Planning and Local Government the number of applications made in 2018, by county for the Rebuilding Ireland home loan scheme; the number of applications approved; the value of applications versus funds approved in tabular form; his plans for the scheme; and if he will make a statement on the matter. [24106/19]

Freagraí scríofa

Minister for Housing, Planning and Local Government

The Housing Agency provides a central support service which assesses loan applications that are made to the local authorities and makes recommendations to the authorities as to whether loans should be offered to applicants.  I have asked the Agency to centrally compile figures on the numbers of applications that it has assessed and recommended for approval. The figures, as at the end of December 2018, indicate that out of the 3,036 applications assessed, the Agency had recommended a total of 1,550 applications for approval since the Rebuilding Ireland home loan scheme launched, as set out in the table below:

Local Authority	Applications Assessed	Recommended to Approve
Carlow County Council	46	16
Cavan County Council	12	7
Clare County Council	48	19
Cork City Council	101	53
Cork County Council	222	133
Donegal County Council	29	18
Dublin City Council	339	215
Dún Laoghaire - Rathdown County Council	72	45
Fingal County Council	410	229
Galway City Council	62	30
Galway County Council	102	41
Kerry County Council	78	40
Kildare County Council	171	87
Kilkenny County Council	25	15
Laois County Council	70	36
Leitrim County Council	9	2
Limerick City & County Council	76	46
Longford County Council	29	15
Louth County Council	67	31
Mayo County Council	40	18
Meath County Council	185	124
Monaghan County Council	17	6
Offaly County Council	35	14
Roscommon County Council	26	13
Sligo County Council	36	20
South Dublin County Council	206	112
Tipperary County Council	76	29
Waterford City & County Council	32	14
Westmeath County Council	21	17
Wexford County Council	80	43
Wicklow County Council	128	62
Total	3,036	1,550

The average loan amount requested across the 3,036 applications assessed in 2018 was €160,473 and the average loan amount for all applications recommended for approval was €189,045. The total amount recommended for approval from 1 February 2018, when the scheme began, to end December 2018 was €293 million.

In addition, a further 648 applications were deemed invalid and therefore not assessed.  

Applications are considered invalid for reasons of:

- Not a first-time buyer (ineligible)

- Earning income which exceeds scheme limits (ineligible)

- Not in continuous employment for the minimum period (ineligible)

- No right to remain in Ireland (ineligible)

- All required sections of the application form not completed (incomplete)

- Not providing the supporting documents described in the applicant checklist (incomplete)

Each local authority must have in place a credit committee and it is a matter for the committee to make the decision on applications for loans, in accordance with the regulations, having regard to the recommendations made by the Housing Agency.