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Social and Affordable Housing

Dáil Éireann Debate, Thursday - 21 January 2021

Thursday, 21 January 2021

Ceisteanna (124, 125, 136)

Pearse Doherty

Ceist:

124. Deputy Pearse Doherty asked the Minister for Housing, Local Government and Heritage if the interest payable on the equity loan under the affordable purchase shared equity scheme will be linked to harmonised indices of consumer prices, HICP; if not, if it will be linked to any other index; and if he will make a statement on the matter. [3491/21]

Amharc ar fhreagra

Pearse Doherty

Ceist:

125. Deputy Pearse Doherty asked the Minister for Housing, Local Government and Heritage the initial rate of interest that will be on equity loan repayments under the affordable purchase shared equity scheme; and if he will make a statement on the matter. [3492/21]

Amharc ar fhreagra

Eoin Ó Broin

Ceist:

136. Deputy Eoin Ó Broin asked the Minister for Housing, Local Government and Heritage if his Department is currently engaging with the Department of Finance, the Department of Public Expenditure and Reform and the banking sector on the issue of the proposed €75 million shared equity loan scheme; the nature, frequency and content of these engagements; if additional funding for the scheme from private banks is being sought; if so, the rates of interest being discussed; and the involvement the banks will have in the administration of the shared equity loan scheme. [3364/21]

Amharc ar fhreagra

Freagraí scríofa

I propose to take Questions Nos. 124, 125 and 136 together.

In December last, the Government approved the priority drafting of the Affordable Housing Bill 2020, which will provide a legislative basis for a number of new affordable housing measures, one of which is the Affordable Purchase Shared Equity Scheme. Once enacted, the Bill will deliver on key affordability commitments in the Programme for Government. To advance this legislation and operationalise the scheme, my Department is working closely with partners in Government, the Housing Agency and is also engaging with representatives of the retail banks.

The detailed design of the scheme is currently ongoing including consideration of the administrative and funding structures as well as any interest rate arrangement that may apply. It is intended that, when finalised, the scheme will be open to new build homes, subject to regional price caps, and targeted at first time buyers.

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