Brendan Smith (Cavan-Monaghan, Fianna Fail)
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17. To ask the Minister for Housing, Planning, Community and Local Government his plans to increase income limits for local authority house loans; and if he will make a statement on the matter. [24804/17]

Damien English (Meath West, Fine Gael)
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There are currently two housing loan finance offerings available from local authorities for first time buyers unable to get adequate loan finance from a building society or bank.  In the case of the House Purchase Loan, the gross income (before tax) is €50,000 or less for a single income household or €75,000 or less in the case of a double income household.  To avail of the second option, the Home Choice Loan, applicants need to earn over €35,000 as a single applicant and over €45,000 combined income as joint applicants.  No maximum income limits apply in the case of the Home Choice Loan.

When the loan products were introduced, careful attention was given to the terms and conditions that should be applied to it. Decisions on all loan applications must be made in accordance with the applicable statutory Credit Policy in order to ensure lending prudence and to assist local authorities across the sector to engage consistently in responsible mortgage lending, in the best interest of borrowers and local authorities as lenders alike.  

Minister Coveney is currently examining the Home Choice Loan scheme and is also considering how local authority mortgages can be better publicised to ensure that creditworthy households who may be unable to source adequate loan finance from commercial lenders but could be eligible for one of the local authority mortgages, are made aware of the opportunity.