Brendan Smith (Cavan-Monaghan, Fianna Fail)
Link to this: Individually | In context | Oireachtas source

225. To ask the Minister for Housing, Planning, and Local Government if a person can be considered for a local authority home loan where exceptional circumstances pertain in relation to one of the conditions of the scheme (details supplied); and if he will make a statement on the matter. [14554/23]

Darragh O'Brien (Dublin Fingal, Fianna Fail)
Link to this: Individually | In context | Oireachtas source

The Local Authority Home Loan is a Government backed mortgage scheme for first-time buyers and fresh start applicants 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. The loan can be used both for new and second-hand properties, or to self-build.

A ‘Fresh Start’ principle applies for applications to the Local Authority Home Loan. The following categories of persons are eligible to apply for the Local Authority Home Loan under the Fresh Start principle:

- Applicant(s) that previously purchased or built a residential property, but is divorced/separated or otherwise and has left the property and divested themselves of their interest in the property are eligible.

- Applicant(s) that previously purchased a residential property, but have been divested of this through insolvency or bankruptcy proceedings, are eligible to apply. The applicant must be discharged from bankruptcy proceedings. It should be noted that a return to solvency should not be interpreted as a return to creditworthiness, which is a separate assessment.

I currently have no plans to further expand the Local Authority Home Loan to include non-first time buyers or those not qualified under Fresh Start.

Further details can be found on localauthorityhomeloan.ie/