The Green Funding Product is designed to encourage the development of sustainable housing across all HBFI products
- In order to qualify for the product, the project design must be certified to the Home Performance Index (HPI) or equivalent standard
- Those projects that qualify can avail of a discount of up to 0.5% on the margin that they could normally expect to be charged
- The product/discount is available across all HBFI products (some products are subject to certain minimum margins – please contact HBFI for further information)
- The usual qualification criteria (set out for each product) continue to apply
- Early engagement with HBFI is essential to ensure that the criteria for HPI certification are considered from the outset
- Further information regarding the qualification criteria can be found on the Irish Green Building Council website at homeperformanceindex.ie.
HBFI offers support to our customers facing the challenge of delivering sustainable housing developments. We recognise the importance of sustainable development and encourage more green projects across Ireland. We encourage our customers to design and construct developments that meet and exceed the minimum requirements of Building Regulations. This, along with additional innovative measures, will increase the energy efficiency and sustainability of new residential developments.
For loans that qualify for the Green Funding Product HBFI offers a market leading discount of up to 0.50% to the interest rate that would otherwise apply. This discount is available across all HBFI products, however some products are subject to certain minimum margins. In order to qualify, projects must be designed to achieve Home Performance Index (HPI), or equivalent, standard certification.
What is the Home Performance Index (HPI)?
- The Irish Green Building Council developed the HPI which is designed to align with national climate, planning and regulatory policy, European climate policy and global climate and sustainable development goals.
- With improvements in building regulations and improved certification through new building control amendment regulations (BCAR), new dwellings in Ireland are now designed, constructed and certified to a high standard in terms of thermal and energy efficiency.
- In addition to the energy efficiency of a dwelling, HPI assessment examines water efficiency, indoor air quality, the quality of day lighting, flood risk, the impact of the construction materials used and the ecological impact of the development. It also assesses the proximity of homes to schools, shops and other services for pedestrians and cyclists and the availability of public transport.
How to Qualify for the HBFI Green Funding Discount
- Interested developers should contact one of our team at an early stage to discuss their upcoming development.
- In parallel with the normal assessment of proposals, our team will discuss eligibility for the Green Funding Product and how the development can be designed for HPI Certification.
- Should HBFI approve the application (subject to the normal loan assessment criteria) the loan documentation will incorporate the Green Funding Product terms and conditions, which include a clawback of the discount should the project not meet HPI Certification on completion.
- The Developer’s design team are responsible for ensuring that the development is built in accordance with the required HPI standards and the HBFI Monitoring Surveyor will seek confirmation of this as part of the monthly drawdown process and confirm this in writing to HBFI each month.
Any other questions?
Please contact one of our Green Funding Product team (details below) to discuss your upcoming development or alternatively please call (01) 238 4600 or submit an enquiry form.
A member of our team will promptly respond to discuss your specific needs.
Please see our FAQ Section for further information.
Please note: The criteria set out above are indicative only and subject to change. HBFI will assess each transaction on its own merits and each transaction will be subject to the applicable terms and conditions. If an applicant meets the above-mentioned criteria, this does not guarantee credit approval. HBFI reserves the right to make its final decision based on the full application and supporting documentation.