Richard Bruton (Dublin North Central, Fine Gael)
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Question 857: To ask the Minister for the Environment, Heritage and Local Government the new income thresholds, loan limits, minimum mortgage proportion, deposits, thresholds for and level of subsidy towards repayments, interest rate and average monthly cost of payments in respect of council loans, shared ownership and affordable housing. [10266/06]

Noel Ahern (Dublin North West, Fianna Fail)
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The income eligibility limits for shared ownership, affordable housing and local authority house purchase loans are €40,000 for a single income household and €100,000 for a dual income household. The maximum loan which may be advanced by a local authority is €185,000 and subject to this limit, a loan of up to 95% of the price of the house may be made available. A local authority may require payment of a deposit of €1,270 in the case of shared ownership loan and 3% of the purchase price may be accepted as a deposit in respect of an affordable housing loan.

The amount of rent and mortgage subsidy available under the shared ownership and affordable housing schemes is set out in the following table.

The current variable interest rate on local authority loans is 3.25%. In addition, a mortgage protection charge of 0.598% is applied to loans taken out on or after 1 July 1986. Typical monthly repayments today on a loan of €100,000 over 25 years would be €537.