Eoghan Murphy (Dublin Bay South, Fine Gael) | Oireachtas source

More than 1,000 loans have been approved. If they were all approved by the credit committee, we would have almost exhausted the first tranche of €200 million. A significant number of loans have been approved by the Housing Agency. The problem is with the credit committee. That is why we are assessing what is happening. Perhaps drawdown is not a fair measure. This was not opened until February. As anyone who has ever bought a home will be aware, a great deal of time can be lost after mortgage approval is secured while one goes looking at houses and gets into the process of going "Sale Agreed" and everything else. It can be six months before the mortgage is drawn down.