Home Building Finance Ireland (HBFI) was established in December 2018 to lend money to small and medium sized builders and developers for commercially viable residential developments, particularly those situated outside the State's major urban centres. HBFI has been provided with access to €750 million of funding from the Irish Strategic Investment fund, with which it is expected to facilitate the delivery of 7,500 units over the next five years.
Since its formal launch at the end of January, HBFI has engaged actively with small and medium sized builders and developers throughout the country through a range of market awareness raising initiatives. HBFI continues to benefit from a strong pipeline of interest from prospective borrowers as a result of these engagement activities. The drawdown of funds relating to the first facilitates approved is expected to take place shortly with HBFI having approved a number of additional facilities since April.
As indicated in my response of 18th April, HBFI will be in a position to publish information on its lending activities on a half-yearly basis with the first such report to be published in July 2019.