Rebuilding Ireland Home Loan scheme should be funded and restarted now

04 April 2019

Labour Housing spokesperson Jan O’Sullivan TD, has called on the Government to provide the funding and give the direction to Local Authorities to re-activate the Rebuilding Ireland Home Loan Scheme immediately now that the Central Bank has indicated that it has no immediate concerns about the scheme.

Deputy O’Sullivan said:

“I raised this with the Tánaiste in the Dáil today and he told me that there will be a meeting between 3 Government Ministers and the Central Bank tomorrow.  However, he gave no indication that funding will be forthcoming so that Local Authorities, most of whom have run out of money for the scheme, will be able to move applications on and approve those that qualify.

“There are hundreds of individuals and families all around the country for whom this scheme is their only chance to buy a home they can afford.  In many cases, they are paying more in rent to private landlords than they would be with a mortgage.

“It is essential that there are no further hold-ups to this scheme; it can’t become just another announcement from Government that ends in disappointment for hard-working families.

“Now that the Central Bank has no objections, the Government needs to urgently allocate more money to the Home Loan scheme to allow all qualifying households to get the loans that they need to purchase a home.”

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