Bank of Ireland have committed €1 billion of funding for construction and development

Bank of Ireland’s aim is to be the leading supporter of house building in Ireland. Here Denis Bergin, Head of Business Development – Property Lending at Bank of Ireland, outlines the options available to construction companies.

At Bank of Ireland our aim is to be the leading supporter of house building in Ireland.  This is a core part of our strategy and we have committed €1 billion of funding for construction and development. We are currently funding the construction of almost 3,000 residential units and 1,700 student accommodation beds.

To support our strategy, our Business Banking Property team have travelled across the country to deliver a series of nationwide events outlining the opportunities in the Residential Development and Construction sector.

So far this year, we have hosted events in Dublin, Kilkenny, Wexford, Meath, Limerick, Galway and Mayo with further events planned for the rest of the year. We organise a number of breakfast events for house builders, with the key purpose of  communicating updates on the property market from a wide range of speakers including, Planning consultants, the CIF, and local Property Agents who provide their view on the Market.

We are keen to support events that involve both small builders as well as larger house developers and provide attendees the opportunity to network, and share their thoughts and experiences with other developers.

We would like to say special word of thanks to Tom Parlon, Director General of the CIF who shared his insights at a number of these events along with the large numbers of CIF members who also attended.

House builders are continuously growing in confidence in considering new developments and at Bank of Ireland we are proud of the fact that we are supporting more than 100 housing sites countrywide today.

Our Mortgage team in Bank of Ireland are actively supporting first time buyers and house movers across the country through the support of our extensive network of over 250 Branches across the county.

We have recently launched our ‘Wherever you go’ home campaign, promoting a range of products and supports for homebuyers which ultimately supports house developers.

This offer includes a dedicated Mover Team, to help customers with advice on the moving process; up to 3% Cashback on mortgage drawdowns, providing 2% cash back to customers immediately and a further 1% in 5 years’ time for Bank of Ireland current account customers; the option to move with a fixed or tracker mortgage; and flexi options allowing a 3 month break on mortgage repayments while moving homes.

 

Denis Bergin, Head of Business Development-Property Lending, Bank of Ireland

Bank of Ireland is keen to support CIF members with further housing development opportunities.

If you would like to meet us to discuss opportunities or find out more about our upcoming events, please contact denis_m.bergin@boi.com

 

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