The group had approved funding for 5,210 new homes in 86 developments in 20 counties at the end of JuneTotal loan approvals by Home Building Finance Ireland , set up by the Government to fund the delivery of new homes, grew 38 per cent in the six months to the end of June compared with the previous six months.
HBFI said it will continue to have “significant lending capacity available” for future lending from recycling the proceeds from existing loan repayments. It also has the ability to access additional capital through market-based borrowing if required. Of the €1.16 billion approved, drawdowns have taken place in respect of facilities totalling €737 million, for 50 developments totalling 3,229 units where construction is in progress or has completed.
Individual loan facilities range from €1 million to €94 million, with an average size of €13 million. Terms of these facilities range from six months to 48 months, with an average of 22 months. “We remain vigilant to risks such as construction price inflation, but we will work closely with the housebuilding firms we lend to in helping them address these challenges and continue adding to the supply of new homes.”
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