Darragh O'Brien (Dublin Fingal, Fianna Fail)
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859. To ask the Minister for Housing, Planning, and Local Government the amount drawn down under the Rebuilding Ireland home loan scheme to date; the number of applicants who have drawn down loans; and if he will make a statement on the matter. [29994/19]

Darragh O'Brien (Dublin Fingal, Fianna Fail)
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861. To ask the Minister for Housing, Planning, and Local Government the number of applications for the Rebuilding Ireland home loan scheme; the number accepted, the number drawn down, the number refused and the number for which additional information was requested by local authority; and if he will make a statement on the matter. [29996/19]

Eoghan Murphy (Dublin Bay South, Fine Gael)
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I propose to take Questions Nos. 859 and 861 together.

My Department does not collect information on the number of Rebuilding Ireland Home Loan (RIHL) applications received by Local Authorities or the number of applications in respect of which additional information may have been requested. 

However, the Housing Agency provides a central support service, which assesses RIHL applications on behalf of local authorities and makes recommendations to the authorities to approve or decline applications. I have asked the Agency to compile figures on the numbers of applications that it has assessed since the scheme began. The most recent figures, as at the end of June 2019, indicate that 4,427 applications have been assessed by it since the Rebuilding Ireland Home Loan scheme launched in February 2018, of which 2,256 were recommended for approval and 2,171 recommended for decline.

In addition to this, my Department publishes information on the overall number and value of (i) local authority loan approvals and (ii) local authority loan drawdowns.  Information up to the end of Quarter 1 2019, including in relation to the number and value of mortgage drawdowns, is available on the Department's website at the following link:

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Darragh O'Brien (Dublin Fingal, Fianna Fail)
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860. To ask the Minister for Housing, Planning, and Local Government the status of the review of the future funding of the Rebuilding Ireland home loan; when a statement will be issued on the future funding of the scheme; and if he will make a statement on the matter. [29995/19]

Eoghan Murphy (Dublin Bay South, Fine Gael)
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When the Rebuilding Ireland Home Loan (RIHL) scheme was initially being developed, it was estimated that the drawdown of loans would be approximately €200 million over three years. The RIHL has proven to be more successful than initially anticipated, with some €140 million drawn down to the end of March 2019. The first tranche of funding has not been exhausted.

My officials have been engaging with the Department of Public Expenditure and Reform since October 2018 when higher lending and drawdown volumes were beginning to materialise. I informed the Dáil on 29 January 2019 of the scheme’s success and of the need for additional funding and indicated that my Department was in discussions with the Department of Public Expenditure and Reform and the Department of Finance with regard to the allocation for 2019.

At all times, the scheme remained open and all local authorities were advised to continue to receive and process applications up to and including the issuing of loans.

My Department has consulted in detail with each Local Authority as to the anticipated demand in its area, and the likely level of approvals expected. This information has been submitted to the Department of Public Expenditure and Reform with request for sanction for additional borrowing by the Housing Finance Agency. The HFA have an ongoing borrowing facility for when sanction is given so that they are in a position to proceed to borrow this second tranche of funding immediately.

The first tranche of funding has not been exhausted, the Rebuilding Ireland Home Loan remains open to new applicants, and local authorities are to continue to receive and process applications and issue loans.