TDs must have the right to question state-funded organisations

In your article ‘Bank loans “best” for homeless charities’ it is stated that I “asserted up to €500 million in funding for social housing made available by the Housing Finance Agency was left unclaimed” (Irish Examiner, August 25).

In fact it was the Sunday Times that reported this fact. I was however quoted in the report criticising Focus Ireland and the McVerry Trust for failing to apply for this funding which is available in the form of loans to housing bodies and local authorities. They and some other housing bodies have been less proactive in this regard than five housing bodies who have successfully applied for these loans and provided housing to families on housing lists.

In responding to my criticisms, both Focus Ireland and the McVerry Trust were very critical of me personally. They also suggested the terms of loans available from the Housing Finance Agency (HFA) to approved housing bodies are less favourable in terms of the rate of interest and the loan conditions than what they could get from commercial lending institutions. This is surprising because the rates of interest charged by the HFA compare very well with open market rates. In addition when housing bodies draw down the loans from the HFA, the Government signs a payment and availability agreement undertaking to provide the finance the housing body requires to repay the money owed. In return the housing bodies allocate the new homes to families and individuals on council housing lists.