Written answers
Wednesday, 12 May 2021
Department of Housing, Planning, and Local Government
Departmental Schemes
Noel Grealish (Galway West, Independent)
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115. To ask the Minister for Housing, Planning, and Local Government if a guarantee from a company (details supplied) will suffice in lieu of a HB47 homebond or premier guarantee under the Rebuilding Ireland home loan scheme; and if he will make a statement on the matter. [24736/21]
Darragh O'Brien (Dublin Fingal, Fianna Fail)
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The Rebuilding Ireland Home Loan Scheme (RIHL) is designed to enable credit worthy first-time buyers to access sustainable mortgage lending to purchase new or second-hand properties or self-builds.
In relation to self-builds, the RIHL requires that construction is covered by latent defect insurance policies and is underwritten by Insurance Companies. Builders', manufacturers' or engineers' certification are not equivalent to latent defect insurance and therefore cannot be used as a substitute.
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