The government and the Central Bank are set to meet today, 05 April, over the potential restart of the Rebuilding Ireland Home Loan Scheme.

Labour's Jan O’Sullivan TD called on the government to help relaunch the scheme after the Central Bank confirmed it has no objections.

Deputy O'Sullivan raised the issue yesterday, 04 April, in the Dáil, where she was informed three government ministers would meet with the bank.

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However, no indication was given that funding will be forthcoming so that councils will be able to move applications on and approve those that qualify.

She said: "There are hundreds of individuals and families all around the country for whom this scheme is their only chance to buy a home they can afford. In many cases, they are paying more in rent to private landlords than they would be with a mortgage.

"It is essential that there are no further hold-ups to this scheme; it can't become just another announcement from Government that ends in disappointment for hard-working families.

"Now that the Central Bank has no objections, the Government needs to urgently allocate more money to the Home Loan scheme to allow all qualifying households to get the loans that they need to purchase a home."

(CM/JG)