Noel Grealish (Galway West, Independent)
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736. To ask the Minister for Housing, Planning, and Local Government if a site value is considered as a deposit or proof of savings when applying under the Rebuilding Ireland home loan scheme; and if he will make a statement on the matter. [40749/21]

Darragh O'Brien (Dublin Fingal, Fianna Fail)
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The Rebuilding Ireland Home Loan Scheme is designed to enable credit worthy first-time buyers to access sustainable mortgage lending to purchase new or second-hand properties. The Rebuilding Ireland Home Loan provides first-time buyers with access to mortgage finance that they may not otherwise have been able to obtain. More details of this are set out in the FAQ's section of the Rebuilding Ireland Home Loan and in the link below.

The maximum loan amount under the Rebuilding Ireland Home Loan is limited to 90% of the market value of the property or, in the case of self-build properties, 90% of the overall cost. This means an applicant must raise 10% from their own resources. The site value is not explicitly regarded as a deposit or proof of savings, although, in certain circumstances, such as when the site is owned by the applicant, it can serve to reduce the amount of borrowing required under the Rebuilding Ireland Home Loan to complete the house.

For prospective purchasers of newly-built properties, or for self-builds, the availability, through the Revenue Commissioners, of the Help to Buy Initiative for first-time buyers may provide additional assistance to prospective applicants for the Rebuilding Ireland Home Loan. Further information is available online at: 

www.revenue.ie/en/property/help-to-buy-incentive/index.aspx