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Written Answers — Department of Housing, Planning, and Local Government: Home Loan Scheme (16 Jun 2020)

Eoghan Murphy: My Department publishes information on the overall number and value of (i) local authority loan approvals and (ii) local authority loan drawdowns in 2018. Local authority approval means that an official letter of offer has been sent to a borrower (and therefore relates to a specific property and loan amount). Information on the Rebuilding Ireland Home Loan for 2018 can be found on my...

Written Answers — Department of Housing, Planning, and Local Government: Covid-19 Pandemic Supports (16 Jun 2020)

Eoghan Murphy: My Department has responsibility for the Rebuilding Ireland Home Loan, which is designed to enable credit-worthy first-time buyers to access sustainable mortgage lending to purchase new or second-hand properties in a suitable price range. The scheme is targeted at first-time buyers who have access to an adequate deposit and have the capacity to repay a mortgage, but who are unable to access a...

Written Answers — Department of Housing, Planning, and Local Government: Home Loan Scheme (3 Jun 2020)

Eoghan Murphy: The Rebuilding Ireland Home Loan (RIHL) was launched on 1 February 2018. When the RIHL was initially being developed, it was estimated that the drawdown of loans under the scheme would be approximately €200 million over three years. The RIHL proved to be more successful than initially anticipated and following discussions with the Department of Public Expenditure and Reform, an...

Written Answers — Department of Housing, Planning, and Local Government: Home Loan Scheme (3 Jun 2020)

Eoghan Murphy: My Department publishes information on the overall number, value and average values of (i) local authority loan approvals and (ii) local authority loan drawdowns. Local authority approval means that an official letter of offer has been sent to a borrower (and therefore relates to a specific property and loan amount). Information on the Rebuilding Ireland Home Loan for 2019, including...

Written Answers — Department of Housing, Planning, and Local Government: Home Loan Scheme (3 Jun 2020)

Eoghan Murphy: As part of the Rebuilding Ireland Home Loan application process the Housing Agency provides a central support service which assesses applications for the Rebuilding Ireland Home Loan on behalf of local authorities and makes recommendations to the authorities to approve or refuse applications. Housing Agency recommendations are then considered by the Credit Committee in each local authority,...

Written Answers — Department of Housing, Planning, and Local Government: Local Authority Services (3 Jun 2020)

Eoghan Murphy: The Rebuilding Ireland Home Loan is designed to enable credit-worthy first-time buyers to access sustainable mortgage lending to purchase new or second-hand properties in a suitable price range. The scheme is targeted at first-time buyers who have access to an adequate deposit and have the capacity to repay a mortgage, but who are unable to access a mortgage sufficient for them to...

Written Answers — Department of Housing, Planning, and Local Government: Rental Sector (27 May 2020)

Eoghan Murphy: ...accelerate delivery of housing for the private and social rental sectors. The Government is tackling housing affordability in a number of ways to help ensure that people can provide themselves with a home - whether for rent or purchase. Acknowledging that renters in Dublin and other major urban centres are facing significant housing access and affordability challenges, the Government is...

Written Answers — Department of Housing, Planning, and Local Government: Home Loan Scheme (27 May 2020)

Eoghan Murphy: I propose to take Questions Nos. 1071 and 1072 together. The Rebuilding Ireland Home Loan (RIHL) was launched on 1 February 2018. When the RIHL was initially being developed, it was estimated that the drawdown of loans under the scheme would be approximately €200 million over three years. The RIHL proved to be more successful than initially anticipated and following discussions with...

Written Answers — Department of Housing, Planning, and Local Government: House Purchase Schemes (20 May 2020)

Eoghan Murphy: My Department publishes information on the overall number and value of (i) local authority loan approvals and (ii) local authority loan drawdowns. Local authority approval means that an official letter of offer has been sent to a borrower (and therefore relates to a specific property and loan amount). Information on the Rebuilding Ireland Home Loan for 2019, including the number and value of...

Written Answers — Department of Housing, Planning, and Local Government: Social and Affordable Housing (20 May 2020)

Eoghan Murphy: Delivery of more affordable homes to rent or buy is a priority for the Government.  My Department has developed a range of measures to assist local authorities to provide homes of this nature, which are being utilised at the two sites referred to by the Deputy. The regeneration of Poolbeg West is the next logical step in transforming the Docklands area, given its strategic location...

Written Answers — Department of Housing, Planning, and Local Government: Home Loan Scheme (20 May 2020)

Eoghan Murphy: ...any power or control in relation to any individual case with which a housing authority is or may be concerned. Accordingly, I, as Minister, am precluded from intervening in relation to individual loan applications.  The final decision on loan approval is a matter for each local authority and its Credit Committee on a case-by-case basis. Decisions on all housing loan applications...

Written Answers — Department of Housing, Planning, and Local Government: Social and Affordable Housing (13 May 2020)

Eoghan Murphy: In line with the commitments in Rebuilding Ireland to support the delivery of discounted homes to buy or rent, the Government has allocated €310 million under the Serviced Sites Fund (SSF) over the period 2019 to 2021. This funding will provide for infrastructure to support the delivery of some 6,200 more affordable homes on local authority lands. SSF has been made available to local...

Written Answers — Department of Housing, Planning, and Local Government: Housing Issues (13 May 2020)

Eoghan Murphy: ...resources to priority areas is therefore important. The assessment of an individual's capacity to borrow from commercial lenders is governed by the macro-prudential rules set by the Central Bank of Ireland. While every application for a mortgage would be assessed on its own merits, banks and other lending institutions do have the freedom to make a limited amount of exceptions to lending...

Written Answers — Department of Housing, Planning, and Local Government: Home Loan Scheme (13 May 2020)

Eoghan Murphy: My Department publishes information on the overall number and value of (i) local authority loan approvals and (ii) local authority loan drawdowns. Local authority approval means that an official letter of offer has been sent to a borrower (and therefore relates to a specific property and loan amount). Information on the Rebuilding Ireland Home Loan up to Quarter 4 2019, including in relation...

Written Answers — Department of Housing, Planning, and Local Government: Social and Affordable Housing Provision (13 May 2020)

Eoghan Murphy: The Government is committed to the introduction of the Cost Rental housing model in Ireland. Cost Rental is generally understood as being housing where the rents cover the cost of delivering, managing, and maintaining the homes only, less any financial supports provided by the State or Local Authorities. Depending on the nature of the model, Cost Rental lacks the level of profit margin often...

Written Answers — Department of Housing, Planning, and Local Government: Home Loan Scheme (13 May 2020)

Eoghan Murphy: The Rebuilding Ireland Home Loan (RIHL) was launched on 1 February 2018. When the RIHL was initially being developed, it was estimated that the drawdown of loans under the scheme would be approximately €200 million over three years. The RIHL proved to be more successful than initially anticipated and following discussions with the Department of Public Expenditure and Reform, an...

Covid-19 (Housing, Planning and Local Government): Statements (7 May 2020)

Eoghan Murphy: ...order, if necessary. In regard to banking, I spoke with the Minister for Finance about this issue very early on, when it arose, and I also engaged with the Banking and Payments Federation Ireland representative group. I did not engage with the banks individually because the line Minister is Deputy Donohoe, but I did speak with him. I made sure that for the Rebuilding Ireland home loan,...

Covid-19 (Housing, Planning and Local Government): Statements (7 May 2020)

Eoghan Murphy: ...today. Hopefully in the future the Deputy will get that opportunity. The social housing waiting lists have been falling. They have fallen to below 70,000 from above 90,000 over the course of Rebuilding Ireland. However, we have farther to go. The rental situation will change after we come out of this emergency. This is because of the amount of new accommodation that has come onto...

Covid-19 (Housing, Planning and Local Government): Statements (7 May 2020)

Eoghan Murphy: ...around the planning area, local government, Irish Water, our fire and emergency services and Met Éireann as well. By way of background in respect of what has been happening in housing and homeless services, I had my first engagement with members of the Dublin Regional Homeless Executive, DRHE, on 25 February, when they raised the issue of Covid-19 and what was then feared, that a...

Covid-19 (Housing, Planning and Local Government): Statements (7 May 2020)

Eoghan Murphy: ...referring what is happening to the Irish Banking Culture Board is an interesting one and I would be interested to see the board's reply. One of the things I was determined to do when we were looking at the Rebuilding Ireland home loan was to make sure that mortgage break would not come at a cost to the borrower. On the basis that we have been able to make that arrangement through the...