It was designed to allow first-time buyers to borrow up to 90% of a property’s value from their local authority
, which had access to an internal document from the Department of Housing, released under Freedom of Information, further approvals are not being issued for the Rebuilding Ireland home loan.
O’Brien said the Minister needs to give certainty to the people who have applied, who meet the criteria, but have not yet been approved for the loan.“This is about planning.” The proper response for the Government should be to provide more affordable housing on State land. “We need more supply and that’s not going to be fixed with low interest loans.”
He said that the Department of Housing should have been monitoring the level of applications for the scheme which had a fund of €200million which was to be disbursed over three years. However, he said he understood that €107million has been allocated to date.
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