To ask the Minister for Finance the amount loaned out by Home Building Finance Ireland to date; the estimated number of homes to be built; and if he will make a statement on the matter.
HBFI commenced operations on the 28th January this year and published its half-year progress update in mid-July. The update is available on the HBFI website (https://www.hbfi.ie/latest/home-building-finance-ireland-publishes-half-year-update) and I am advised that HBFI furnished a copy to all Deputies. The key highlights to end June (after 5 months of operations) are as follows:
Since its launch earlier this year HBFI has been actively engaging 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 primary objective of HBFI is to increase the availability of funding in the market to developers for viable residential development projects. It is important that appropriate credit, due diligence and legal procedures are adhered to in all areas of the lending process - to safeguard, in so far as possible, the funding provided by HBFI. These procedures require adequate time to ensure the highest standards are met and it is important that HBFI have a consistent approach in all applications for funding.
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