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

In Dublin a lot of approvals have been given where people could not find a house that was affordable under the scheme and so the loan was not drawn down. Different things happen in different parts of the country and people's circumstances change even in that six-month window. I accept there is duplication in the system because people apply to different local authorities depending on where they might want to try to buy a home. A process is managed between the Housing Agency and the 31 local authorities to make sure the approvals given are drawn down and what the anticipated drawdown is. It is a constantly moving picture; there is never one point in time at which one can be exactly sure of who is about to go sale agreed, who is about to draw down or what new approvals are to be given by a credit committee. However, we have oversight of all of it, which is why we can tell that, today, 1,660 approvals have been given, which is roughly to the value of €310 million. As I have said, if all of those were called upon tomorrow, all of those would be honoured.