Arthur Morgan (Louth, Sinn Fein)
Link to this: Individually | In context

Question 576: To ask the Minister for the Environment, Heritage and Local Government if his attention has been drawn to the fact that where an applicant purchasing a house under the affordable housing scheme with a local authority mortgage receives a mortgage subsidy from the local authority, it is then refunded by his Department to the local authority; if his attention has further been drawn to a mechanism to facilitate the same where the affordable house buyer receives their mortgage from an outside lender other than a local authority; if this mechanism does exist if it is functioning to its full capacity; if there is no mechanism in place, when he plans to introduce one; and if he will make a statement on the matter. [38649/06]

Noel Ahern (Dublin North West, Fianna Fail)
Link to this: Individually | In context

Under the affordable housing schemes administered by the local authorities, an annual mortgage subsidy ranging from €1,050 to €2,550 is available to eligible persons whose household income in the preceding tax year was €28,000 or less. The full amount of mortgage subsidy allowed to applicants is recouped by my Department to local authorities on foot of claims received from them.

Given that eligible applicants under the subsidy scheme would normally avail of a loan from a housing authority, no provision was made to extend the scheme to include mortgages provided by private lending institutions. However, my Department is at present examining mechanisms to extend the benefits of the subsidy scheme to potential applicants with mortgages provided by these institutions and who may meet the terms of the scheme.