Rebuilding Ireland Home loan scheme requirements to be eased

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Jan O'Sullivan
Jan O'Sullivan Labour TD

MINIMUM requirements for applicants to the Government backed “Rebuilding Ireland home loan scheme are to be relaxed in that workers “continuous employment” need not be permanent.

The clarification came when Limerick Labour Party TD and spokesperson for housing, Jan O’Sullivan asked the department of housing and local government to revise the application process.

The Rebuilding Ireland home loan scheme is targeted at first-time buyers who wish to own their own home, satisfy the relevant income limits, have access to an adequate deposit and have the capacity to repay a mortgage, but who are unable to access a mortgage sufficient for them to purchase their first home.

However, Deputy O’Sullivan said that constituents came to her as their applications were rejected by the local authority because their continuous employment was not permanent.

Citing the current application form, Deputy O’Sullivan outlined that the primary earner on the application must have at least two years’ continuous employment, which can be self-employment, and the second applicant must have continuous employment for at least one year.

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“However, the application form states “continuous permanent employment”. Obviously some people really want to get this loan because they cannot get it anywhere else. It is very important that they are not squeezed out because of lack of information.

Minister of State at the Department of Housing Damien English said that the issue was raised with the chief executives of the two main agencies involved in the implementation of the scheme and that the Housing Finance Agency has undertaken to amend the wording on the application form to more clearly reflect the requirements of the scheme, specifically in reference to “continuous employment”. 

“The requirements for the scheme do not require that the relevant employment be explicitly permanent, but rather continuous in nature.”

Deputy English confirmed that those who were previously refused can have their application reviewed through an appeals process.