Bernard Durkan (Kildare North, Fine Gael)
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764. To ask the Minister for Housing, Planning, and Local Government if he will examine the need to install a robust local authority housing loan system similar to that available in the 1980s with the objective of ensuring that families that do not qualify for local authority housing on income grounds can apply for a loan to buy or construct their own houses; and if he will make a statement on the matter. [10113/18]

Bernard Durkan (Kildare North, Fine Gael)
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771. To ask the Minister for Housing, Planning, and Local Government the income qualification guidelines, upper and lower limits, for qualification for a housing loan from the local authority; if applicants need to be on the local authority housing list; and if he will make a statement on the matter. [10120/18]

Eoghan Murphy (Dublin Bay South, Fine Gael)
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I propose to take Questions Nos. 764 and 771 together.

Following a review of the two existing local authority home loan schemes, the House Purchase Loan and the Home Choice Loan, I have introduced, from 1 February 2018, a new loan offering, known as the Rebuilding Ireland Home Loan. The new loan will enable credit worthy first time buyers to access sustainable mortgage lending to purchase new or second-hand properties in a suitable price range. The low rate of fixed interest associated with the Rebuilding Ireland Home Loan provides first time buyers with access to mortgage finance that they may not otherwise be able to afford at a higher interest rate.

Single applicants for the loan must not be earning greater than €50,000 gross per annum. The combined income of joint applicants must not be greater than €75,000 per annum. There are no set minimum income limits; however, applicants do need to have sufficient borrowing and repayment capacity and must be capable of repaying the mortgage in accordance with the statutory credit policy underpinning the loan. These income limits are unchanged from the previous local authority loan offerings.

Full details of the loan's eligibility criteria and other information is available from the dedicated Rebuilding Ireland Home Loan website: . Any person who meets the eligibility criteria may apply for a loan regardless of whether or not they are on the local authority housing list or qualified for social housing support.