Written answers
Thursday, 14 July 2011
Department of Environment, Community and Local Government
Mortgage Schemes
8:00 pm
Ray Butler (Meath West, Fine Gael)
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Question 201: To ask the Minister for the Environment, Community and Local Government the number of mortgages provided and the total amount of mortgage funding lent through the home choice mortgage scheme; the total cost of establishing this scheme; the running costs to date, inclusive, of salaries paid; and if he will make a statement on the matter. [20524/11]
Willie Penrose (Longford-Westmeath, Labour)
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To date 10 Home Choice Loans have been issued, with a total value of â¬2,007,080. A further 6 Home Choice Loans have been approved but not yet drawn down, with a total value of â¬1,192,840.
The total cost to date of administering the scheme is approximately â¬305,925. These costs include the setting up of the central processing unit (CPU) within the Housing & Sustainable Communities Agency (HSCA), formerly the Affordable Homes Partnership. The costs were met fully from within existing resources within the HSCA. A significant element of the staffing costs was incurred in the development of the loan processing model which applies to the Home Choice Loan but which has also now been used in the development of revised systems for processing and credit checking of standard local authority house purchase loan applications under other schemes such as tenant purchase, shared ownership etc. The HCL scheme is intended to be a temporary one which will be withdrawn once conditions in credit markets return to normal patterns.
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