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

There are national criteria for how the Rebuilding Ireland home loan is to be implemented. As I stated, I brought together a group of people to ensure those criteria are being applied consistently across local authority areas. Each local authority has its own credit committee. After an application is approved by the Housing Agency, which acts as a clearing house or backstop, it is up to the local credit committee to make a decision on approval of the loan. That responsibility must rest with the committee.

Data for quarter 1 of 2019 will be published and show exactly what has been happening in each local authority in respect of approvals and drawdowns in that period. We will continue to publish such data. One of the issues about which I am in discussion with the Minister for Public Expenditure and Reform, Deputy Donohoe, is more accurate and up-to-date data to be provided more regularly than on a quarterly basis to see whether we can get a much clearer picture as the loan develops over the coming months. That is happening.

Further significant funding is coming. All approvals that have been given will be honoured. I made that commitment several months ago to a colleague of the Deputy's at a meeting of the Joint Committee on Housing, Planning and Local Government. The Housing Finance Agency has a significant loan facility available to borrow more funding as needed. Every comfort has been given to local authorities, either in the circular I issued or through direct contact, that they can continue to issue and approve loans and that those loans will be honoured by my Department, working with the Housing Finance Agency. There has been no delay on this. The scheme is not oversubscribed. The rate of approval is different from the rate of drawdown because some people apply in multiple local authority areas and not all approvals are drawn down within a six-month period

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