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Government instructs Councils to cease issuing loans under Home Loan Scheme for first time buyers – Munster

13 March, 2019 - by Imelda Munster TD

Sinn Féin TD for Louth Imelda Munster has questioned in the Dáil why Louth County Council has been instructed to cease issuing loans under the Rebuilding Ireland Home Loan scheme, despite the popularity of the programme, which assists middle to low income families who are first time buyers and have been refused mortgages by banks.

Deputy Munster questioned Tánaiste Simon Coveney on why the government has instructed the council to cease issuing loans, given the ongoing housing emergency, and the fact that this is one of the very few schemes aimed at assisting people in lower wage brackets to buy their own homes.

Deputy Munster said:

“Louth County Council confirmed that they have received instructions to cease issuing loans under the Rebuilding Ireland Home Loan scheme.

“These are the very same loans that Minister for Housing Eoghan Murphy said would assist middle to low income families and first time buyers who have been turned down by banks.

“Over half of the €200million fund has already been drawn down, just one year into the three year scheme, which is an indication of the dire need for this fund.

“Minister Coveney dodged the question, refusing to give me a straight answer. Is he suggesting that Louth County Council is making this up? The fact is that it’s true. They have been told to cease issuing loans at a time when for many low to middle income first time buyers this is their only option for buying a home. The government needs to explain this.

“There’s been enough ducking and diving by the Minister for Housing and his colleagues.

“It’s time we got a straight answer on this.”

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