Sir, – I read Una Mullally's allegations of Fine Gael "gaslighting" the nation on affordability (Opinion & Analysis, October 7th) and wish to correct one inaccuracy on which she bases her claims.
Your columnist states a couple with a joint income of €50,000 could not secure a Rebuilding Ireland home loan of €279,000.
“They couldn’t, as it would break the Central Bank’s own rules on lending,” she adds. “A couple would need a combined income of €79,000 to get that loan, an income level that would disqualify them from accessing affordable housing in the first place, as you have to be earning under €75,000.”
The Housing Agency, which underwrites the Rebuilding Ireland Home Loan, has confirmed that a household with a joint income of €50,000 could borrow €279,000 over 30 years at 2.25 per cent. This would involve a repayment of €1,196 per month. This information is available on the Rebuilding Ireland Home Loan website.
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I would also note that people all over Ireland are availing of this loan, and along with the Help to Buy scheme, it is bringing affordability to couples across the country. – Yours, etc,
EOGHAN MURPHY,
Minister for Housing,
Planning and Local
Government,
Custom House,
Dublin 1.