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New State lender – aimed at builders and developers – has initial €750m to finance house building

The Government has formally launched a new State lender that will finance house building.

 

Home Building Finance Ireland (HBFI), will lend up to €35m per scheme and up to 80pc of the development cost of housing schemes.

It is aimed at small and medium sized builders/developers.

HBFI has an initial €750m of State funds to fund the delivery of up to 7,500 new homes over the next five years.

The fund will charge 5pc to 8pc over Euribor.

Article Source: http://tinyurl.com/kbwqb42

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