Local Authorities
Dail Éireann — 2022-05-31
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Malcolm Noonan (GP), Carlow-Kilkenny

The local authority home loan is a Government-backed mortgage for first-time buyers and other eligible applicants delivered through local authorities. The scheme provides mortgage financing for those who are unable to secure a sufficient commercial bank loan. It was introduced on 4 January 2022, replacing the previous Rebuilding Ireland home loan.
My Department is in regular contact with local authorities regarding the local authority home loan and stands by to offer any assistance or guidance that is required to support the timely processing of these loans. At this stage I do not see a need for a policy change or audit regarding processing. However, my Department keeps the operation of the local authority home loan under review and will respond if further information comes to light, as the Deputy has brought forward tonight. I do not have county breakdowns but under the previous Rebuilding Ireland home loan 2,700 home loans were drawn down from 2018 to 2021. The data on draw downs is not yet available for the local authority home loan, which commenced on 4 January this year. The underwriters for the home loan have reported that 26 Rebuilding Ireland home loan applications and 213 local authority home loan applications were processed by the Housing Agency in April 2022. Of the 213 applications, ten were invalid, 82 were recommended for approval, which is 43%, and 121 were recommended for decline.
The Deputy also asked a question about the mortgage protection policy, which is left to the homeowner. I will make an inquiry within the Department about that for him.

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Record URI: https://data.oireachtas.ie/akn/ie/debateRecord/dail/2022-05-31/debate/main
Retrieved: 2026-08-14T04:50:31+00:00
Sitting date: 2022-05-31