Barry Cowen
Question:66. Deputy Barry Cowen asked the Minister for Finance if NAMA will charge a service fee to home building finance Ireland for use of its expertise in residential development funding. [44376/17]
View answerThursday, 19 October 2017
Questions (66)
Written answers
As announced in my Budget speech on 10 October 2017, it is my intention to establish Home Building Finance Ireland (HBFI) to provide funding on market terms to viable residential development projects whose owners are experiencing difficulty in obtaining debt funding.
HBFI will be a standalone entity which will provide funding directly into the market.
HBFI will be designed to leverage off the extensive experience already available to the State to deliver this initiative and as such existing NAMA staff skills and expertise will be utilised to deliver this funding.
Any services provided by NAMA to HBFI will likely be provided under a service level agreement with HBFI re-imbursing NAMA appropriately for any services delivered. The exact staffing and servicing arrangements are currently being devised by my officials and NAMA and will be determined in due course.