Dáil Éireann Debate, Tuesday - 16 June 2020
60. Deputy Eoin Ó Broin asked the Minister for Finance further to Parliamentary Question No. 63 of 27 May 2020, the number of the 70 local applications to HBFI that were rejected; the number still pending; the number of the 23 approved loan applications that had planning permission; and the number that were awaiting planning and had not applied for it at the time of loan approval. [10583/20]
View answerI am advised by HBFI that of the 70 loan applications received there are currently 12 pending decision. I am further advised that HBFI has approved approximately 50% of all valid applications received to date and that this approval level is standard for residential development lending and reflects the underlying risk profile of the projects. Loan applications are assessed on a case by case basis and the main reason an application does not get approved is that the housing or apartment scheme is not viable. Viability of a project is an important element of the assessment process and is undertaken to ensure that state funds are leant in a prudent manner with a high probability of repayment. Lending to an unviable project would expose taxpayer money to an unacceptable level of risk.
In relation to planning, I am advised by HBFI that all of the applications approved to date had the required planning permission already in place but HBFI does engage with projects that are in the planning system to ensure that the final approval of funding can happen as soon as planning is achieved.
