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

Some €140 million has been drawn down to date and €200 million is available in the first tranche. I entered into early discussions with the Department of Finance to ensure funding would be available for a second tranche when it is needed. However, it is not yet needed because the allocations have not run out.

In March the Department issued a circular informing local authorities to continue to process loans and issue loans despite the approvals that have gone through. If we identified any issues with local authorities indicating that was not happening, we contacted them directly. The scheme's continued operation is not dependent on me announcing the additional amount that will come in the second tranche. There will be an additional amount as I have previously confirmed. We will honour all loans that have been approved. I have said that. At the moment discussions are happening with the Department of Public Expenditure and Reform as to the amount of that second tranche. That is not impeding the issuing of loans and all loans approved to date will be honoured.

I repeat that of €200 million in the first tranche, only €140 million has been drawn down to date. There are still ample funds in the Rebuilding Ireland home loan scheme for those approvals already given. We are debating a second tranche of funding that will come to follow after the first tranche has been drawn down.

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