Record lending to approved housing bodies in 2016

Growth in AHB activity

The HFA is pleased to advise that 2016 has been a record year for lending to approved housing bodies (AHBs), supported by the ongoing development and implementation of new initiatives which enhance the products and services offered to the sector.

A number of key milestones were achieved, including loan approvals exceeding €250 million, loan advances exceeding €100 million, committed financing for the number of new homes exceeding 1,500 and the number of Certified AHBs reaching sixteen. 

The following table sets out the key activity statistics for the 2016 and 2015.

 

2016

2015

Loans approved

€260m

€116m

Loans advanced

€126m

€34m

New homes - finance approved

1,740

924[1]

Certified AHBs

16

12

This growth in activity is supported by the HFA’s wide suite of products, specifically tailored to meet the needs of the AHBs. In particular there has been significant demand for the EIB/CEDB supported 2.75% long term finance, fixed for twenty five years to support new build and retrofit projects and the various other long term fixed rate products available for acquisition finance.

Over the past two years loans have been approved to develop, acquire or retrofit a total of 3,214 homes. The geographical breakdown by county is as follows: 

pie chart

[1] Energy upgrades for an additional 550 homes were also financed


New initiatives

The HFA has undertaken a number of key initiatives to help support the activity of AHBs, including:

  • improved and expanded the long term fixed rate product range and accessed very cost effective 25 year finance from the EIB/CEDB
  • introduced a new Category 2 Certified Body status to enable Tier 2 AHBs access finance easily and efficiently
  • sought and received feedback from the sector with respect to HFA legal documentation and made amendments based on this feedback
  • tailored the HFA project application process to better match the product offering and reduce the customer burden

New customers

The HFA would like to congratulate the following AHBs that achieved Certified Body status in 2016:

  • ALONE
  • Dublin Simon Community
  • Foscadh Housing Association
  • North & East Housing Association
  • St John of God Housing Association

These AHBs now join the previously approved Certified Bodies:

  • Circle Voluntary Housing Association
  • Clúid Housing Association
  • Co-operative Housing Ireland
  • Focus Housing Association
  • FOLD Ireland
  • HAIL (Housing Association for Integrated Living)
  • Oaklee Housing
  • Respond! Housing Association
  • The Iveagh Trust
  • Tinteán - Carlow Voluntary Housing Association
  • Túath Housing Association

We look forward to working with each of them to finance new housing projects and to support their work with the homeless.

Addressing the Social Housing need

Interest rates are at an all-time low, and the HFA is in a strong position to finance social housing development by local authorities and AHBs at extremely competitive interest rates, fixed for periods out to thirty years. The HFA, as set out its strategy document HFA 2020, is committed to its key role of facilitating and supporting the successful delivery of social housing in Ireland and welcomes the opportunity to work with and support all members of the wider “Housing Group” in the delivery of the objectives as set out in Rebuilding Ireland.

For further information please contact cosec@hfa.ie

Housing Finance Agency, plc., 46 St. Stephen’s Green, Dublin 2

Telephone: 01 8725722

Website: www.hfa.ie

log-in