State-backed lender Home Building Finance Ireland (HBFI) said total loan approvals grew 14 per cent by the end of June, backing almost 20,000 homes to date. <\/p>\n
The organisation has approved a total of \u20ac3.8 billion in loans up until the end of June, compared to \u20ac3.3 billion at the end of December. Funding covered 256 developments across 25 counties, with 70 per cent going to houses. <\/p>\n
More than 8,000 of the funded units have been sold, with a further 2,972 contracted for sale or sale agreed as at the end of June. Drawdowns have taken place for 168 developments, accounting for 73 per cent of the approved value. <\/p>\n
The organisation said the increase demonstrates steady demand for targeted lending products.<\/p>\n
\u201cWe are continuing to provide strong and sustained support for homebuilders throughout Ireland. Our recent research clearly shows the importance of having a range of funding solutions for small and medium-sized homebuilders in particular, as well as for those who face equity constraints,\u201d HBFI chief executive Dara Deering said. <\/p>\n
\u201cThe funding we have provided for almost 20,000 homes demonstrates the strength of our relationships with homebuilders, at a time when the delivery of housing is so important.\u201d<\/p>\n
HBFI was set up to address gaps in the market faced by homebuilding companies, with strong demand seen for its products from SMEs. <\/p>\n
The majority of its approvals \u2013 87 per cent \u2013 are for projects with less than 35 per cent equity contributions from the homebuilder, while 80 per cent are targeted at SMEs seeking \u20ac20 million or less. The average loan is around \u20ac14.7 million with a term of 23 months. <\/p>\n
T\u00e1naiste and Minister for Finance Simon Harris welcomed the progress. \u201cIncreasing housing supply remains a key Government priority, and HBFI\u2019s flexible product range, particularly its support for SMEs, is helping to bring forward much-needed housing developments,\u201d he said. <\/p>\n","protected":false},"excerpt":{"rendered":"State-backed lender Home Building Finance Ireland (HBFI) said total loan approvals grew 14 per cent by the end…\n","protected":false},"author":2,"featured_media":550720,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2],"tags":[88518,61,60,43,70],"class_list":["post-550719","post","type-post","status-publish","format-standard","has-post-thumbnail","category-ireland","tag-home-building-finance-ireland","tag-ie","tag-ireland","tag-news","tag-simon-harris"],"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/posts\/550719","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/comments?post=550719"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/posts\/550719\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/media\/550720"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/media?parent=550719"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/categories?post=550719"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/tags?post=550719"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}