Review of the Rebuilding Ireland Home Loan, 2018 – 2021

Utilising available data covering the period from February 2018 to end 2021, this analytical note examines activity under the Rebuilding Ireland Home Loan (RIHL) scheme, mortgage values approved under the scheme, and funding allocations across LAs.

Average drawdown amounts were typically below average approval amounts and median first-time buyer mortgages. Given the terms of the scheme and the low average approval and draw down amounts, it is likely that the scheme was being used in combination with the Tenant Purchase Scheme. It is also likely that homes being purchased under the scheme were typically those in the lower deciles of the deciles of the value distribution in any given local authority. There is a need for a more detailed dataset which would allow for greater understanding of the types of properties being purchased under the scheme, the social impact of the scheme and the potential risks it poses to the Exchequer.