Dáil Éireann Debate, Tuesday - 8 March 2022
245. Deputy Sorca Clarke asked the Minister for Housing, Local Government and Heritage the number of local authority home loan scheme applications that were received from Westmeath County Council for 2020, 2021 and to date in 2022; and the number that were granted in the same period. [12490/22]
Amharc ar fhreagra246. Deputy Sorca Clarke asked the Minister for Housing, Local Government and Heritage the number of local authority home loan scheme applications that were received from Longford County Council for 2020, 2021 and to date in 2022; and the number that were granted in the same period. [12491/22]
Amharc ar fhreagraI propose to take Questions Nos. 245 and 246 together.
The Local Authority Home Loan has only been available nationwide from local authorities since 4 January 2022. Prior to that, the Rebuilding Ireland Home Loan was the mortgage available from local authorities. As of 4 January 2022, no new Rebuilding Ireland Home Loan applications will be accepted, although applications/approvals already in process will be honoured. Therefore, information on both loan schemes is set out below.
The Housing Agency provides a central support service that assesses applications for the Rebuilding Ireland Home Loan, and its successor the Local Authority Home Loan scheme, on behalf of local authorities and makes recommendations to the authorities to approve or refuse applications. Data are collected separately for the Rebuilding Ireland Home Loan and the Local Authority Home Loan schemes.
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 establishing the scheme and the Credit Policy that under pins the scheme, having regard to the recommendations made by the Housing Agency.
The most recent figures provided by the Agency on the number of Rebuilding Ireland Home Loan and Local Authority Home Loan applications that it has underwritten for Longford County Council and Westmeath County Council, from 2020 up to the end of February 2022 are set out in the below tables:
Rebuilding Ireland Home Loan
|
- |
|||
|
Year |
Local Authority |
Applications Underwritten |
Applications Recommended for Approval |
|
2020 |
Westmeath |
14 |
9 |
|
2020 |
Longford |
31 |
16 |
|
2021 |
Westmeath |
40 |
25 |
|
2021 |
Longford |
47 |
22 |
|
2022 (to 28/02/2022) |
Westmeath |
3 |
2 |
|
2022 (to 28/02/2022) |
Longford |
0 |
0 |
|
|
|
|
|
|
Local Authority Home Loan |
|
|
|
|
Year |
Local Authority |
Applications Underwritten |
Applications Recommended for Approval |
|
2022 (to 28/02/2022) |
Westmeath |
2 |
2 |
|
2022 (to 28/02/2022) |
Longford |
4 |
2 |
My Department regularly publishes information on the number and value of (i) local authority loan approvals and (ii) local authority loan drawdowns. Local authority approval means that an official letter of offer has been sent to a borrower (and therefore relates to a specific property and loan amount).
Local Authority drawdowns, approvals, average drawdowns, and average approvals to Q2 2021 is available at the following link, which will be updated, as updated figures are available: www.gov.ie/en/collection/42d2f-local-authority-loan-activity/#local-authority-loans-approvedpaid.
