Tuesday, 17 September 2019
Department of Housing, Planning, and Local Government
Home Loan Scheme
687. To ask the Minister for Housing, Planning, and Local Government the number of persons that have made an application for Rebuilding Ireland loans; the number granted, refused and pending, respectively; and if he will make a statement on the matter. [37731/19]
The Housing Agency provides a central support service which assesses applications for the Rebuilding Ireland Home Loan on behalf of local authorities and makes recommendations to the authorities to approve or refuse applications.
I have asked the Agency to compile figures on the numbers of applications that it has assessed, recommended to approve and recommended to decline since the scheme began. To the end of August 2019, the Housing Agency had assessed 4,900 applications. Of these, it had recommended 2,490 for approval and 2,410 to be declined.
My Department does not routinely collate data on the number of applications pending.
688. To ask the Minister for Housing, Planning, and Local Government the extent to which Rebuilding Ireland loans are available, now and in the future; and if he will make a statement on the matter. [37732/19]
The Rebuilding Ireland Home Loan scheme remains fully operational and all local authorities are continuing to accept and process applications under scheme.
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. However, the RIHL proved to be more successful than initially anticipated. My officials began engaging with the Department of Public Expenditure and Reform in 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.
Following positive engagement with my colleague, the Minister for Public Expenditure and Reform, my Department wrote to all 31 local authorities on 15 August 2019, sanctioning an additional €363 million in funding for the RIHL, bringing total funding to €563 million for 2018 and 2019 combined.