Tuesday, 17 December 2019

Ceisteanna (144)

Darragh O'Brien


144. Deputy Darragh O'Brien asked the Minister for Finance the amount of finance available per annum for Home Building Finance Ireland to lend to developers; the amount loaned out to date; and if he will make a statement on the matter. [53418/19]

Amharc ar fhreagra

Freagraí scríofa (Ceist ar Finance)

Home Building Finance Ireland ("HBFI") was provided with a funding facility of €750m consisting of €20m equity and a loan facility of €730m. In the first nine months of operation to 31st October 2019, HBFI approved facilities of €102m, enabling the delivery of 513 new homes. The full €730m is available to HBFI for lending and the amount approved each year will vary depending on a number of factors, not least of which will be the level of demand from the construction sector. While the overall amount available will decrease as money is lent, the fund will be replenished as developments are completed and loan facilities are repaid.

Should the initial €730m provided be utilised in full at any point in time HBFI has the ability  to raise a further €750m from other market sources through the issue of bonds and securities on commercial terms. Further information is available at www.hbfi.ie