Home Building Finance Ireland loan approvals jump by 15%

In the same period last year, it approved funding for 5,210 new homes in 86 developments in 20 counties. Social housing projects accounted for 23 per cent of the new homes during that period.

Of the €1.4 billion approved, drawdowns have taken place in respect of facilities totalling €979 million for 66 developments supporting 4,258 homes where construction is in progress or has completed. Individual loan facilities range from €1 million to €108 million, with an average size of €12 million. Terms of these facilities range from six months to 48 months, with an average of 22 months.

The product will be available to larger homebuilding firms that may encounter issues accessing funding in order to accelerate their delivery. It said further details of the product will be announced closer to launch.

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