Pat Deering (Carlow-Kilkenny, Fine Gael)
Link to this: Individually | In context | Oireachtas source

858. To ask the Minister for Environment, Community and Local Government if he will review the regulations governing local authority mortgages whereby only first-time buyers or builds are entitled to qualify, which discriminates against those who may have had difficulties in the past with previous mortgages and who are now cleared but because of their status cannot qualify; and if he will make a statement on the matter. [46883/15]

Alan Kelly (Tipperary North, Labour)
Link to this: Individually | In context | Oireachtas source

The terms and conditions governing the operation of standard annuity mortgages provided by local authorities to qualifying first time buyers are set out most recently in the Housing (Local Authority Loans) Regulations 2012. These are available on my Department’s website at the following weblink:.

In 2009, a Credit Policy was issued, in accordance with the Housing (Local Authority Loans) Regulations 2009, to all housing authorities. Decisions on all housing loan applications must be made in accordance with this statutory Credit Policy in order to ensure prudence and consistency in approaches.

All applicants must complete a housing loan application form which can be downloaded from the relevant local authority’s website. As part of the loan application procedure, the Housing Agency provides an underwriting and support service to all local authorities. This shared central service processes loan applications, carries out credit checks and issues a recommendation to the local authority on each loan application in accordance with the credit policy. The final decision on loan approval is a matter for each local authority and its credit committee on a case-by-case basis. Accordingly, the local authority issues the loan and the Housing Agency provides an underwriting and support service to the local authority during the loan application process.

To ensure effective targeting of limited resources, local authority loan finance continues to be available to first time buyers only. The Housing (Local Authority Loans) Regulations 2012 are kept under constant review. There are no plans, at this time, to alter the Regulations in this regard. The option currently available for non-first time buyers is to seek home loan facilities from one of the commercial lending institutions.