Michael Finneran (Roscommon-South Leitrim, Fianna Fail)

The Housing (Miscellaneous Provisions) Bill 2008 provides for a total revamp of all loans under the shared ownership, affordable and other schemes. Specifically, I have introduced two new types of loan, namely, the incremental purchase scheme and the equity loan. These measures represent significant movement in this area. The home choice loan scheme is essentially a facility for people who wish to build a house but are unable to access finance in the current economic climate. The website received 6,000 or 7,000 hits, with 1,400 people expressing a direct interest. There have been 33 formal applications. I am anxious that those applications be followed through so that people in this category are looked after. As I said, the loan facility is under review. It will be removed only when it is no longer necessary.

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