Ivana Bacik (Dublin Bay South, Labour)
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230. To ask the Minister for Housing, Planning, and Local Government if he has plans to revise the income thresholds for local authority home loans; and his views on offering flexibility to couples who earn 5-10% more than the income threshold for couples who are applying for same. [7826/23]

Darragh O'Brien (Dublin Fingal, Fianna Fail)
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The Local Authority Home Loan was launched in January 2022. It is a Government backed mortgage for those who cannot get sufficient funding from commercial banks to purchase or build a home. It is available to first-time buyers and fresh start applicants to purchase a new or second-hand property, or to self-build.

I recently announced significant changes to the scheme parameters in relation to house prices and income limits.

The income ceilings for applicants nationwide will increase from 1 March 2023 and it will be open to applicants previously outside the income limits to reapply under the new income thresholds, if they wish.

The income limits which will apply from 1 March 2023 are as follows:

- Single applicants - increased to a maximum income of €70,000 gross per annum

- Joint applicants - increased to a combined maximum income of €85,000 gross per annum.

Decisions on all housing loan applications must be made in accordance with the Regulations establishing the scheme and the credit policy that underpins the scheme. In order to ensure prudence and consistency in approaches in the best interests of both borrowers and lending local authority, the scheme limits must be adhered to.

The final decision on Local Authority Home Loan applications is a matter for the relevant local authority.

Further information can be found on the dedicated website localauthorityhomeloan.ie/.