Seán Canney (Galway East, Independent)
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105. To ask the Minister for Housing, Planning, and Local Government the incentives he plans to introduce to assist first-time buyers in purchasing second-hand houses; and if he will make a statement on the matter. [46457/21]

Darragh O'Brien (Dublin Fingal, Fianna Fail)
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My Department operates the Rebuilding Ireland Home Loan, which is targeted at first time buyers who wish to own their own home, have access to an adequate deposit and have the capacity to repay a mortgage, but who are unable to access a mortgage sufficient for them to purchase their first home.

The loan enables credit worthy first time buyers to access sustainable mortgage lending to purchase new or second-hand properties in a suitable price range or to self-build.

As part of Housing for All, I announced that a reformed successor to the Rebuilding Ireland Home Loan Scheme, the 'Local Authority Home Loan', will be in place later in 2021. The Local Authority Home Loan will include an increase in the income ceiling for single applicants, thus increasing the number of people eligible.

In addition, I have already implemented a reduction of the mortgage interest rate for new borrowers by 0.25% under the existing Rebuilding Ireland Home Loan (RIHL), as from 10 September 2021; this lower rate will also apply to loans issued under the forthcoming Local Authority Home Loan.

I also announced a ‘Fresh Start’ principle for applications to State affordable housing and loan schemes. This means that people who are divorced or separated and have no interest in the family home, or who have undergone insolvency proceedings, will be eligible to apply.