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Social Democrats co-leader Catherine Murphy TD today called for funds for the Rebuilding Ireland Home Loan scheme to be replinished.

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“It has become obvious that the Rebuilding Ireland Home Loan scheme is not working effectively and that people are being put through an emotional rollercoaster trying to secure a home.”

Social Democrats Co-Leader Catherine Murphy has repeatedly raised issues regarding the funds available for the Rebuilding Ireland Home Loan scheme in recent months. Deputy Murphy has raised the issue in both the Dáil and the Public Accounts Committee of which she is a member. She said it had become obvious that the scheme was not working effectively and that people were being put through an emotional rollercoaster trying to secure a home.

Last week the Department of Housing confirmed to Catherine Murphy that Kildare County Council, Fingal County Council, Meath County Council, Tipperary County Council and Waterford City & County Council have stalled entirely in terms of lending.

Overall, 10 local authorities, including Kildare County Council have sought increases to their allocations for loan approval. Further funds were allocated to 9 of those authorities (including Kildare), for this purpose last month. Kildare County Council has also raised a number of issues concerning the administration of the scheme and the Department is in discussions with KCC on these matters.

Speaking following the revelations today that local authorities have currently no funding available to them from the Department for the scheme Catherine Murphy TD said:

“During a recent Public Accounts Committee meeting, the Secretary General of the Department admitted that the take up of the scheme had not been anticipated which raises the question of whether a proper analysis and forecast was ever undertaken, €200 was initially made available, we are still not informed on how this sum was arrived at.”

“I have spoken to so many people who have applied for this loan as there only opportunity to get a secure home for themselves and their family. I had flagged the extent to which funds have been depleted in the Rebuilding Ireland Home Loan Scheme in late 2018, we are drawing to the end of the first quarter of 2019 and we are at a critical point, the fund needs to be replenished. Prospective borrowers in Kildare and beyond are in limbo while discussions continue between the Departments of Public Expenditure and Reform and Finance regarding extending further funding for the scheme.”

05th March 2019



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