News & Events
Housing Finance Agency moves to make more funds available for Tier 2 Social Housing Providers
Peter McVerry Trust, the homeless and housing charity, has welcomed the decision by the Housing Finance Agency to make funds available for Tier 2 approved housing bodies to acquire properties to be then used as social housing. The announcement was made this morning at a joint briefing by the Housing Finance Agency and the Irish Council for Social Housing.
Pat Doyle, CEO of Peter McVerry Trust, said “The announcement made by the Housing Finance Agency this morning is really positive move for Tier 2 AHBs, like Peter McVerry Trust, who have between 100-300 social housing units.”
“The announcement means that Tier 2 organisations can each apply for funding of up to €1.5 million to acquire properties on the market and then put them to use as social housing. This scheme means we won’t have to go through the full HFA approval process as organisation to secure funding.”
“The process may help Peter McVerry Trust to accelerate the provision of much needed social housing for people in homeless services, and will be part of our efforts to significantly grow our housing provision as part of a housing led approach to ending homelessness.”
Continuing Mr Doyle said it would also allow closer relationships and better understanding on both sides of the partnership. “It allows both the HFA and Tier 2 organisations to familiarise themselves with each others working and Peter McVerry Trust intends to use this as a platform to go on and secure full approval from the HFA to drawn down other funding in the future”
The HFA will make funding available for Tier 2 approved housing bodies up to €1.5 million over a 10 year period with preferential rates that will compete with those on offer through other financial institutions.