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.