Home Building Finance Ireland ('HBFI') published its half-year update in mid-July having commenced operations on 28th January 2019
(https://www.hbfi.ie/uploads/files/HBFI-Mid-Year-Market-Update-June-2019.pdf). The key highlights to end June 2019 (after 5 months of operations) were as follows:
- More than 100 Expressions of Interest received from across the country.
- Over 30 full funding applications received from 17 counties.
- €41m in funding approved (7 facilities), translating to 228 units.
- 92% of full applications made to HBFI from outside of Dublin.
- Facilities approved in Counties, Dublin, Wicklow, Kildare, Laois and Clare.
- Projects range in size from 10 units to 73 units.
- Average size of facilities provided to end June was €6m.
The primary objective of HBFI is to increase the availability of funding in the market to developers for viable residential development projects. HBFI is proactively engaging with market participants and continues to develop a strong pipeline of transactions with several further transactions approved across the country since the half-year update. HBFI will provide detailed information for the period, June 2019 to December 2019 in early 2020.