Written answers

Thursday, 26 May 2022

Department of Housing, Planning, and Local Government

Financial Services

Photo of Niall CollinsNiall Collins (Limerick County, Fianna Fail)
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240. To ask the Minister for Housing, Planning, and Local Government if an applicant for a local authority mortgage for a self-build property can avail of the opt-out option for certification; and if he will make a statement on the matter. [27101/22]

Photo of Darragh O'BrienDarragh O'Brien (Dublin Fingal, Fianna Fail)
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The Local Authority Home Loan (LAHL) is a Government backed mortgage for those on modest or low incomes who cannot get sufficient funding from commercial banks to purchase or build a home. It has been available nationwide from local authorities since 4 January 2022 for first-buyers and fresh start applicants. The loan can be used both for new and second-hand properties, or to self-build. It is the successor to the Rebuilding Ireland Home Loan (RIHL).

Applications for a Local Authority Home Loan for the purposes of funding a self-build property will only be considered in circumstances where the security property in question is a new construction, i.e. properties that are part-built or otherwise commenced at the time of making a Local Authority Home Loan application will not be eligible for consideration.

Full compliance with the s a requirement of the Local Authority Home Loan. The facility to opt out of statutory certification (allowed for in  is not available to applicant(s).

The final decision on loan approval is a matter for the relevant local authority and its credit committee on a case-by-case basis. Decisions on all housing loan applications must be made in accordance with the statutory credit policy that underpins the scheme, in order to ensure prudence and consistency in approaches in the best interests of both borrowers and the lending local authorities.

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