Dáil Éireann - Volume 433 - 01 July, 1993

Written Answers. - Local Authority Lending Rates.

42. Mr. Durkan asked the Minister for the Environment whether it is proposed to bring the lending rates for public housing into line with rates currently offered by private institutions with particular reference to housing finance agency, Small Dwellings Act and share ownership loans; and if he will make a statement on the matter.

Minister of State at the Department of the Environment (Mr. Stagg): The interest rate on local authority variable interest rate house purchase (including shared ownership) and improvement loans will be further reduced shortly to reflect the most recent reductions in [894] building societies mortgage rates. Building society rates are not relevant to the interest rate on Housing Finance Agency loans or local authority fixed rate loans.