Written answers

Tuesday, 18 December 2018

Department of Housing, Planning, and Local Government

Home Loan Scheme

Photo of Michael McGrathMichael McGrath (Cork South Central, Fianna Fail)
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664. To ask the Minister for Housing, Planning, and Local Government if persons working part time are excluded from availing of the Rebuilding Ireland home loan scheme; and if he will make a statement on the matter. [53049/18]

Photo of Eoghan MurphyEoghan Murphy (Dublin Bay South, Fine Gael)
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The Rebuilding Ireland Home Loan was introduced on 1 February 2018 under the Housing (Rebuilding Ireland Home Loan) Regulations 2018. The scheme enables local authorities to provide home loans in accordance with the criteria set out in the regulations and statutory Credit Policy. The Housing Agency carry out assessments of each valid loan application on behalf of the relevant local authority, and make a recommendation in respect of each application in line with the criteria set out in the Credit Policy.

As part of the eligibility requirements, the primary earner on the application must have at least two years' continuous employment (this can be self-employment), while the second applicant must have continuous employment for at least one year in order for their income to be taken into consideration.

As such, part-time workers are not excluded from applying for the Rebuilding Ireland Home Loan; however, they remain subject to the full assessment as set out in the Credit Policy. In undertaking this assessment, the Housing Agency will examine an applicant's eligibility in accordance with the criteria as set out in the Credit Policy, which includes an assessment of the applicant's ability to repay a mortgage.

Under the Regulations it is a matter for each local authority to make the final decision on loan approval applications. Each authority must establish a Credit Committee to consider these applications on a case-by-case basis, in accordance with the statutory Credit Policy, and having regard to the recommendations of the Housing Agency.

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