Dáil Éireann Debate, Tuesday - 17 June 2025
290. Deputy Paul Lawless asked the Minister for Finance the total annual funding provided by Home Building Finance Ireland to developers for home construction, by year and county/region, in tabular form. [32343/25]
Amharc ar fhreagra291. Deputy Paul Lawless asked the Minister for Finance the current rate at which HBFI funding is being disbursed to developers; and how has this rate changed over recent years. [32344/25]
Amharc ar fhreagra292. Deputy Paul Lawless asked the Minister for Finance the specific actions that will be taken to streamline the HBFI application process and eliminate redundant red tape that hinders funding access. [32345/25]
Amharc ar fhreagra293. Deputy Paul Lawless asked the Minister for Finance the total number of applicants who have been refused HBFI funding or have failed to complete their applications due to the current bureaucratic requirements. [32346/25]
Amharc ar fhreagra294. Deputy Paul Lawless asked the Minister for Finance the number of incomplete or rejected HBFI applications; and which administrative requirements are most frequently cited as obstacles. [32347/25]
Amharc ar fhreagra295. Deputy Paul Lawless asked the Minister for Finance the measures being considered to simplify the funding application process and reduce the bureaucratic hurdles that are reportedly limiting developers' access to HBFI finance. [32348/25]
Amharc ar fhreagraI propose to take Questions Nos. 290, 291, 292, 293, 294 and 295 together.
HBFI’s total loan approvals from inception to the end of December 2024 amounted to €2.67bn. The approved funding is across 184 projects, in 23 counties, and can support the delivery of 13,186 new homes.
See table below of annual funding approved by county by year since inception:
|
County |
2019 |
2020 |
2021 |
2022 |
2023 |
2024 |
|
|
€'m |
€'m |
€'m |
€'m |
€'m |
€'m |
|
Carlow |
€3 |
€0 |
€0 |
€0 |
€0 |
€0 |
|
Cavan |
€0 |
€0 |
€0 |
€0 |
€3 |
€4 |
|
Clare |
€2 |
€0 |
€4 |
€0 |
€7 |
€13 |
|
Cork |
€14 |
€11 |
€21 |
€58 |
€33 |
€179 |
|
Donegal |
€0 |
€3 |
€6 |
€0 |
€0 |
€4 |
|
Dublin |
€9 |
€191 |
€193 |
€113 |
€165 |
€333 |
|
Galway |
€0 |
€6 |
€47 |
€0 |
€0 |
€123 |
|
Kerry |
€10 |
€0 |
€5 |
€18 |
€0 |
€88 |
|
Kildare |
€35 |
€15 |
€11 |
€14 |
€6 |
€50 |
|
Kilkenny |
€0 |
€0 |
€0 |
€42 |
€0 |
€0 |
|
Laois |
€12 |
€0 |
€9 |
€0 |
€0 |
€0 |
|
Limerick |
€0 |
€0 |
€0 |
€16 |
€17 |
€10 |
|
Louth |
€3 |
€36 |
€23 |
€25 |
€19 |
€85 |
|
Mayo |
€0 |
€5 |
€10 |
€0 |
€0 |
€0 |
|
Meath |
€10 |
€4 |
€82 |
€0 |
€59 |
€11 |
|
Monaghan |
€1 |
€0 |
€0 |
€0 |
€0 |
€2 |
|
Offaly |
€0 |
€10 |
€9 |
€14 |
€5 |
€7 |
|
Sligo |
€0 |
€0 |
€0 |
€0 |
€0 |
€17 |
|
Tipperary |
€0 |
€0 |
€0 |
€6 |
€7 |
€23 |
|
Waterford |
€0 |
€0 |
€12 |
€0 |
€8 |
€0 |
|
Wexford |
€0 |
€3 |
€0 |
€10 |
€17 |
€1 |
|
Wicklow |
€8 |
€3 |
€8 |
€96 |
€55 |
€55 |
|
Westmeath |
€2 |
€0 |
€0 |
€0 |
€7 |
€6 |
|
Total |
€108 |
€287 |
€440 |
€413 |
€408 |
€1,010 |
As the Deputy will be aware, Home Building Finance Ireland ('HBFI') was established to increase the supply of new homes for owner-occupiers, renters and social housing by providing funding on commercial terms to house builders for commercially viable developments throughout Ireland, i.e. projects must generate reasonable/appropriate profit margins on development costs.
HBFI lending is therefore on commercial terms, in line with other residential finance providers in the market. The interest rates on facilities provided by HBFI comprise a margin over 3-month Euribor, with that margin based on the risk profile of each individual facility.
I am informed by HBFI that the average lending rate in 2024 was 6.45%, 2023 was 6.67%, 2022 was 6.8%, 2021 was 6.9%, 2020 was 6.98%.
HBFI continuously reviews its end-to-end processes to streamline where possible. It seeks feedback from customers and stakeholders on a regular basis, both formally via surveys, and informally via individual stakeholder meetings, the output of this feedback forming a key part of ongoing plans to refine processes.
I am informed by HBFI that 7% (37 deals) of total loan applications received by HBFI from inception to the end of 2024 have been declined. HBFI advise that the typical reasons why applications don’t proceed with HBFI include the project not being viable and therefore it does not progress at all, or the housebuilder secures funding from another provider.
