Agency financing student housing is not going to ‘police rent’

The Housing Finance Agency plans to double its loan book by the end of 2026 to deliver 19,000 new homes and more than 3,000 new student beds, an Oireachtas committee has been told.

Chief executive of the agency Barry O’Leary said the agency does not stipulate the level of rent that universities or colleges must or can charge when they are providing finance. The agency provides cheap and long-term finance to local authorities and approved housing bodies in an effort to help with the delivery of social and affordable homes across the country.

Mr O’Leary said the majority of its loan book of €5.9 billion was lent to local authorities and approved housing bodies. A further €1.45 billion will be lent to local authorities over the next five years according to its forecasts. This includes €750 million in finance for the recently launched Local Authority Home Loan scheme and €250 million for the Retrofit Home Loan scheme.

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