FOLLOWING representations from Fianna Fáil TD Willie O’Dea, Minister for Housing Darragh O’Brien has said that an agreement has been reached to allow successful applicants to draw down funds under the Croi Cónaithe Scheme (Vacant Homes Scheme).
Banks had previously been refusing to allow the grant to be paid out to successful applicants requiring a mortgage to purchase properties.
Speaking to the Limerick Post this week, Deputy O’Dea said that successful applicants could have lost out on grants of up to €70,000.
“I am delighted that following my representations to the Minister for Housing, the Minister has resolved a major issue which was preventing the vacant homes grant from being paid out to these individuals,” he said.
“One of the terms of the grant is that a legal charge be placed on the property in question and anybody that used a mortgage to purchase the home required the consent of their lender, which was being refused by the banks.
“However, agreement has now been reached between the Department of Housing and the main lending banks to provide consent to a second charge on properties in respect of the grant,” Deputy O’Dea concluded.