Cian O'Callaghan (Dublin Bay North, Social Democrats)
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1158. To ask the Minister for Housing, Planning, and Local Government if variable local authority home loan interest rates will reduce in line with the recently reduced costs of borrowing for the Housing Finance Agency; and if he will make a statement on the matter. [45233/25]

James Browne (Wexford, Fianna Fail)
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Local authorities borrow from the Housing Finance Agency to finance their mortgage lending.  Where there is a change in the cost of borrowing for local authorities from the Housing Finance Agency my Department instructs local authorities to change the interest rates as appropriate for their borrowers.  Any change in the interest rate applying to variable rate mortgages will then be advised to borrowers directly by their local authority.