Louth TD says home loan applicants left in limbo as government withhold funding

Louth TD Imelda Munster, has called on the Minister for Housing to immediately release funding for Rebuilding Ireland Home Loans to allow those who have been approved under the scheme to buy their own homes.

Deputy Munster raised the cases of 17 applicants in Louth who have been approved for loans, but are not able to buy homes as the funding has not been released to Louth County Council by central government.

The Sinn Féin TD also rejected as “rubbish”, the Minister’s response that councils have been told to continue to pay out loans as the funds will be forthcoming.

Deputy Munster said:

“I made a representation on behalf of a constituent of mine in recent weeks, and the response I received was that her loan had been approved, but Louth County Council are awaiting funding which has yet to be released by central government.

“The council said that they cannot release funds to in the cases of 17 approved loans as they have not received their allocation from the Department.

“These are young people, and young couples, who are trying to make a start in life by buying a home. They have been turned down for mortgages by the banks, and now they are facing this entirely unnecessary delay."

Deputy Munster added: “They are from a generation that is bearing the brunt of the government’s incompetence in the provision of housing. People who have been approved for these loans have saved up and are waiting anxiously for central government to deliver under the Rebuilding Ireland home loan scheme.

“One of these applicants has received notice to quit from her landlord and is facing into homelessness next month. She has her loan approved, but she is stuck in limbo, facing homelessness, because the government hasn’t released funding.

“The government has to stop the spin, and the bluster. All they have to do is release the funding. If the funding is withheld and interest rates change, loan contracts will have to be withdrawn which will cause further delay. This has to be done now.

“We have seen the PR and fanfare when these schemes are announced. But the government hasn’t delivered on its promise.

“I am calling on the government to ensure that these funds are made available to county councils immediately, " Deputy Munster concluded.