Richard Bruton (Dublin North Central, Fine Gael)
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Question 251: To ask the Minister for the Environment, Heritage and Local Government the value of the subsidy payable towards payments on a home purchase loan or shared ownership for persons on low income; the categories of buyer eligible for this subsidy; and if he plans to increase the income thresholds or the value of subsidy in view of the increased income thresholds for house purchase loans. [44923/09]

Michael Finneran (Roscommon-South Leitrim, Fianna Fail)
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A mortgage subsidy or, as appropriate, a rental subsidy under the Shared Ownership Scheme, is available to support home ownership for low income households with income below €28,000 in the previous tax year. This subsidy is intended to reduce the monthly outgoings of the purchaser. Alternatively, a mortgage allowance of €11,450 spread over 5 years is available to assist tenants or tenant purchasers of local authority houses and tenants of dwellings provided by approved voluntary housing bodies under the Capital Loan and Subsidy scheme, who return their accommodation to the body, thus making it available for re-letting, to become owner-occupiers of other dwellings, including affordable housing.

Current income bands and subsidies under the mortgage subsidy scheme and the amount of mortgage allowance payable each year are set out in the table below. There are no plans at this time to widen the household income bands or to increase the subsidy/allowance.