Rise In Lending Rates By State’s Housing Finance Agency Has Left Key Not-For-Profit Social Housing Providers Unable To Proceed With Some Projects
A rise in lending rates by the State’s Housing Finance Agency has left key not-for-profit social housing providers unable to proceed with some projects.
According to the Irish Times, the agency told approved housing bodies last week it was raising interest rates on long-term fixed loans.
Approved Housing Bodies say this will limit the number of new social houses they’ll be able to deliver as they rely on the loans.
They’re due to provide 45 per cent of the State’s target of social housing units, and the surprise rise puts the aims of the Housing for All plan in jeaprody.