Paschal Donohoe (Dublin Central, Fine Gael) | Oireachtas source

Home building finance Ireland will not be lending through the pillar banks or intermediaries. It will lend directly to companies that can provide a viable business plan, that are deserving of funding and that need funding. They will not do it through intermediaries for the reason identified by the Deputy. Those involved in running home building finance Ireland and those who will be making credit decisions are well capable of doing that work and I do not see the need for any existing bank to play an intermediary role. On the timing, I said I was aiming to bring the legislation before the House early next year and to have the organisation set up and running before next summer. While that may not be as fast as the Deputy wants, putting in place a new organisation such this over several months is, by any objective measure, a fast response to what I acknowledge is a problem we need to address.

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