The Social / Affordable Housing Product is designed to provide funding for projects predominantly for social or affordable housing:
- Developments contracted for sale pre-construction to a Local Authority, an Approved Housing Body (AHB) or the Land Development Agency (LDA) or affordable units for sale to the open market with an agreed structure in place with a Local Authority, an AHB or the LDA
- Gearing of up to 80% (includes site purchase and development funding)
- Margin of between 5% and 7% (over 3-month Euribor), with an entry fee of 1% and no exit fee
Ideally, the site should have planning permission or be in the process of achieving planning permission.
Any other questions?
If you would like to enquire further about this product, have any further questions or would like to submit an application for funding, then please complete and submit the enquiry form.
Following submission of the form, a member of the HBFI lending team will contact you within two working days to answer any queries that you may have and/or guide you through the application process.
Please also see our FAQ Section for further information.
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.