Bank of Ireland has announced a range of initiatives to support new housing supply. These actions were informed by the deliberations of a group of private sector representatives – drawn from homebuilders, equity investors, representative bodies, and select professional services – and convened by Bank of Ireland. The group considered actionable ways in which the private sector can accelerate housing supply in a responsible manner
Recognising the challenges for homeowners who wish to move to a home better suited to their needs, Bank of Ireland will pilot a new lending product to support homeowners trading down. Available to all homeowners whether they are existing Bank of Ireland customers or not, this product will launch in early Q1 2026. The Bank is also exploring other product innovation focused on supporting expanding families to trade up to a larger property.
The group of private sector representatives also discussed the optimal mix of financing solutions for homebuilders to scale up activity across multiple sites and the important role of equity finance. In response, Bank of Ireland considered equity capital solutions to further support homebuilding which was discussed with the Government in advance of its recent housing action plan.
While there is positive individual engagement between policy makers and parts of the private sector, the group also noted that a more structured dialogue directly between senior officials and private sector leaders on the issue of finance would be productive. Bank of Ireland has written to the Government to propose a regular housing finance forum where senior officials and private sector leaders can exchange insight, discuss latest market developments, and provide feedback with the goal of working together to sustainably increase home building.
Separately, Bank of Ireland will also join other national banks in collaboration with Government bodies, to work with smaller home builders to create a mentoring programme. The objective of the programme will be to support smaller developers to professionalise and scale up their businesses to ensure the development of a sustainable and vibrant home building sector in Ireland.
Myles O’Grady Group CEO at Bank of Ireland, said:
“The issues impacting housing supply are multifaceted and include a range of well-aired matters such as planning, zoning and the availability of serviced land. While these are outside the direct control of the private sector, we hold an important piece of the solution – financing for the construction of homes. This is why we invited a group of senior private sector leaders to come together to examine any steps that haven’t been taken to date, and consider any specific blockages that might be removed. I would like to thank all who joined this group and took part in its discussions.
“These discussions informed the development of new interventions and ideas that could significantly enhance the financing landscape for home development and ownership. Having considered the challenges faced by homeowners who need to move to a property better suited to their needs, we have designed a very practical solution to pilot with our customers. This new product can help support the better use of existing housing stock in the market and we will continue to explore other options.
“Bank of Ireland is supporting home building in a wide range of ways. This includes the provision of equity finance and we will continue to work with partners to explore new equity solutions.
“Banks have a significant role to play in driving housing supply, which is a key societal and economic priority for the country. We will continue to play our part in helping solve this issue and challenge ourselves to do more.”
